Monday, May 19, 2014

Euro Weakened as Economic Sentiment Declined

Economic Expectations for Germany have worsened in May 2014. The ZEW Indicator of Economic Sentiment has decreased by 10.1 points and now stands at a level of 33.1 points. The indicator reflecting the expert’s assessment of the current economic situation for Germany has improved by 2.6 points in May, reaching a level of 62.1 points. Economic Expectations for the Eurozone have also lost ground in May.

The respective indicator has declined by 6.0 points and now stands at 55.2 points. The indicator for the current economic situation in the Eurozone has gained 4.9 points, reaching a level of minus 25.6 points in May. The euro had the biggest two-week decline against the dollar since November as increased concern that the area’s economy is struggling to accelerate sparked selloffs in bonds issued by Greece and Portugal.

The euro fell 0.5% last week to $1.3694, making the two-week decline 1.3%, the most since the period ended November 8. Today, the shared currency started at 1.3701 to fluctuate between the morning’s session high at 1.3711 and 1.3689.

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