Forex News – German sentiment index drops in November
Posted on November 13, 2012 at 10:49 am GMTThe euro tumbled against the dollar, gapping down by over 20 pips after disappointing German sentiment survey which was much worse than expected. Germany’s ZEW economic sentiment index declined to minus 15.7 in November from minus -11.5 in October. This was well below forecasts for -9.8. The euro zone crisis is evidently taking its toll on Europe’s largest economy. Foreign trade and lack of confidence are impacting the German economy. Meanwhile, prevailing recessionary developments in the euro zone are likely [..]