FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Data released earlier today by the Munich-based Ifo institute, showed that German business confidence in October improved to the highest level since April 2014, signalling uncertainty over Brexit continued to abate.
German business climate index climbed to 110.5 from 109.5 in September, beating consensus for a reading of 109.5. The Current Assessment Index increased to 115.0 in September from 114.7 a month earlier above expectations for 114.9.
The Business Expectations Index, which measures attitudes toward business prospects over the next six months, rose to 106.1 in October from 104.5 in the previous month and compared to forecasts for an unchanged reading of 104.5.
According to the German Bundesbank's Monthly Report released on Monday, overall German economic activity continued during the third quarter of 2016, although at a potentially slower pace. The Bundesbank has dismissed weaker growth in Q3 as temporary, and said that underlying momentum remains strong. Export and business expectations in manufacturing suggest the situation could improve in the coming month, the central bank added.
The latest German PMI data, released on Monday, showed a strengthening in the manufacturing sector to a 33-month high and a notable recovery in the services sector after very disappointing data for the third quarter.
