IFO and EUR/USD betting reflect much hope but grim reality

IFO current conditions deteriorate to 88.6 from 95.0 (f/c 94.8)

Business climate drops to 91.7 from 93.6 missing the 93.0 f/c

Expectations beat 91.9 f/c at 94.8 in May from 92.2 in April

EUR/USD similar with huge betting on a rise but pair rangebound in 2023

Since 2023's peak on Apr 26 EUR/USD has dropped to 1.0760

Return to middle 2023 range then followed by risk aversion nL1N37L0DJ

The big EUR/USD gamble is at risk of a serious adjustment nL1N37L0FD