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A small number of economic indicators will be released on Friday.
At 08:00 GMT Germany will publish the IFO Business Climate index, IFO index of current conditions, and the IFO expectations index for June. The first indicator reflects the situation and the optimism of the business community the EU's largest economy. To calculate the index about 7,000 business executives completes a survey who rate the relative level of current business conditions and expectations for the next 6 months. A value below 100 is an indicator of a slowing economy. A reading above 100 shows growing optimism among entrepreneurs. The indicator value may range from 80 to 120. It is expected that the business climate index will fell to 107.5 from 107.7 in May.
At 12:30 GMT the United States will publishe the change orders for durable goods in May. The indicator is important for the market, as it provides an indication of the confidence of consumers of these products in the current economic situation. Since durable goods are quite expensive, the increase in the number of orders for these shows consumers willingness to spend their own money.
At 14:00 GMT the United States will present a final consumer sentiment index from Reuters / Michigan for June. This index represents the results of a consumer survey on the subject of confidence in the current economic situation. The survey involves 500 respondents. With the help of this report, the desire of consumers to spend their money becomes clearer. The index is a leading indicator of consumer sentiment. The indicator is calculated by adding 100 to the difference between the number of optimists and pessimists, expressed as a percentage. It is expected that the index will fell to 94 from 94.7 in May.
And, of course, tonight around 2:00 gmt we will know is UK is still a member of the European Union.
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