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German business confidence suffers as trade war ramps up

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Business confidence in Germany fell in June to its lowest in more than a year, suggesting the mood among company executives is darkening as the world edges toward a full-blown trade war.

Activity declined in all four sectors measured by the Munich-based Ifo institute in Monday’s survey – manufacturing, services, trade and construction.

The readings added to signs that Europe’s biggest economy is cooling after a strong 2017, though economists said a recession was not on the cards.

Reuters

Trade continues to weigh at the start of the week

EUR/USD – Euro steady as German business confidence within expectations

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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