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German business confidence fell to 106.6 in April

Monday, Apr 25 2016
German business confidence unexpectedly deteriorated in the latest sign that Europe’s largest economy is losing some of its pace. The Munich-based Ifo institute’s business climate index fell to 106.6 in April from 106.7 the previous month. The median estimate in a Bloomberg survey of economists was for an increase to 107.1.
The Bundesbank said last week that it sees slowing momentum in the economy this quarter after a strong expansion in the first three months of the year. Global headwinds remain a concern even though the economy in China, Germany’s third-biggest trading parter, is showing signs of a steadiness after a slowdown caused ructions in international markets last year.
 
Euro is currently being traded few points below 1.1260 level. Pair is likely to find support around 1.12 handle and resistance above 1.13 level.
More in this category: « China's financial institutions are facing increasing credit risks UK manufacturing activity steady »

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