(May 24 Tuesday) The German ZEW Center for European Economic Research in Mannheim said the index for expectations on economic developments in the next six months, fell to 6.4 from 11.2 in April, below the median forecast of 12. The report reflects the potential risk and outcome uncertainties of the U.K. Brexit from the European Union in June.
German investor confidence fell for the first time in three months which gave an indication that the growth momentum may be showing signs of slowing despite the recent surge of the 1st quarter GDP at 0.7% from January-March.
The euro fell from the 1.1210 level and came off steadily to 1.1132. The firm U.S. dollar also weighed on the euro.