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.
Trade continues to weigh at the start of the week
EUR/USD – Euro steady as German business confidence within expectations
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.