Business confidence in Germany fell more than anticipated

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Source: Bloomberg
German business confidence index fell more than anticipated in May. Business climate index published by IFO institute in Munich, which surveys 7000 executives in Germany, missed the estimation by 2.5 and decreased to 106.9. Additionally, current situation sentiment fell by 4.2 to 113.3 with excecutives' expectations gauge decreasing by 1.8 to 100.9. After the report Euro lost 0.4% against the majority of pairs by 08:10 a.m. GMT.
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Thu, 24 May 2012 11:13:47 GMT

Euro zone PMI down

The purchasing managers index across the single currency area shrank in May at the fastest rate since mid-2009. The composite purchasing managers index lost 0.8 points and now stands at 45.9. The manufacturing PMI decreased to 45.0, down from 46.1 last month, while the services PMI dropped to 46.5 from 46.9. An indicator below 50 indicates activity shrinkage. Chris Williamson of Markit argues

Thu, 24 May 2012 10:51:47 GMT

Oil decreases due to Iran's negotiations and Greek's concerns

Crude petroleum futures decreased this Wednesday as expectations of Iran's business collaboration with International Agency of Atomic Energy alleviated problems of global supply, while an increasing possibility of Greek's exit from the bloc strengthened the opinion that demand for oil will fall further. The recently published by the government of the United States rates on oil supplies increased the pressure on petroleum prices.

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