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10 July

By Ahmed Mamdouh

Category: Forex News

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Germany’s investor confidence drops more than forecast

Germany’s investor confidence dropped more than forecast in June, data from the ZEW Center for European Economic Research in Mannheim showed on Tuesday.

The index of investor expectations slipped to -24.7 this month, compared to a previous of -16.1. Economists had predicted a retreat to -17.9.

The same gauge in the euro area also slid to -18.7 from -12.6 in June, while analysts had predicted a reading of -13.2.

As of 09:20 GMT, the euro traded lower at 1.1717 versus the green currency, after hitting a high of 1.1762 earlier in the session.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.