The IFO index is close to PMI report and it shows the stability of German economy.

A rising index shows the possibility of production increase during the following months which causes euro strengthening as well as import prices.

What it is: A number of international indices of prices that adapt the figures of merchandise trade balance of each month to turn into volume (or real) conditions.

Why we care: Import price fluctuations except the petroleum ones show perfectly the possibility of foreign-formed prices to affect the U.S. inflation for goods.