(Bloomberg) Germany’s business outlook improved slightly, supporting expectations for Europe’s largest economy to rebound modestly — even as it faces a possible second recession in just over a year.Most Read from BloombergIsrael Latest: US Determines Israel Wasn’t Behind Hospital BlastTrump Ally Mike Johnson Becomes Latest GOP House Speaker NomineeNobody Wants Mutual Funds NowChina Developer Country Garden Deemed in Default on Dollar Bond for First TimeBig Tech Earnings Whipsaw QQQ in Late Tr
After a disappointing performance over the previous two weeks, the dollar tries to build on yesterday’s PMI-driven rebound. DXY touched the 106.5 area, compared to a ST correction low at 105.36 yesterday. EUR/USD dropped further to currently trade near 1.0575.
German business sentiment deteriorated for the fourth month in a row in August to the lowest since late 2022 as companies' assessment of the current situation weakened sharply and they turned more pessimistic regarding the outlook, survey data from the ifo institute showed Friday.