Business confidence in Germany fell more than anticipated

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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