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German ZEW investor sentiment falls in January

Germany’s investor sentiment falls in January. The ongoing decline in the macroeconomic dataflow was shown by the German ZEW survey, which implied that investors judged current economic conditions to have considerably deteriorated at the beginning of the year.

Indeed, the respective survey index fell for the fourth straight month in January and by a steeper-than-anticipated 17.7 points. This left it down a whopping 68 points from a year earlier and likewise at its lowest level for four years. However, there was a modest rise in the expectations balance, by 2.5 points to -15, a four-month high, noted Daiwa Capital Market Research in a report.

However, this was over 35 points below its level one year ago and is still lower than the long run average.

“With most other business sentiment indicators having weakened steadily at the end of last year, we would not be surprised if, in due course, the Ifo and PMIs maintain this negative trend later this week”, said Daiwa Capital Market Research.

At 19:00 GMT the FxWirePro's Hourly Strength Index of Euro was neutral at -45.8837, while the FxWirePro's Hourly Strength Index of US Dollar was neutral at 32.8454 more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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