Forex News – Euro dragged down by weak German investor sentiment data
May 14, 2013 2:50 pm
German investor confidence was weaker in May according to a survey conducted by the ZEW Center for European Economic Research in Mannheim, Germany.
The closely watched index is compiled by asking around 275 German institutional investors, to give their outlook for the next 6 months on Germany, and this index rose less-than-expected this month to 36.4. Economists had projected it to rise at least two points from a previous 36.3.
The data renewed fears of the euro zone crisis impacting Europe’s largest economy, and led the euro lower against the dollar.
Investors shrugged off good data showing euro zone factory orders and industrial production both increased more than economists forecast in March.
Euro fell to a low of $1.2946 in the European session on Tuesday.
German investor confidence was weaker in May according to a survey conducted by the ZEW Center for European Economic Research in Mannheim, Germany.
The closely watched index is compiled by asking around 275 German institutional investors, to give their outlook for the next 6 months on Germany, and this index rose less-than-expected this month to 36.4. Economists had projected it to rise at least two points from a previous 36.3.
The data renewed fears of the euro zone crisis impacting Europe’s largest economy, and led the euro lower against the dollar.
Investors shrugged off good data showing euro zone factory orders and industrial production both increased more than economists forecast in March.
Euro fell to a low of $1.2946 in the European session on Tuesday.
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