The ZEW index, which measures business confidence in Germany, rose by about 6.3 in the June survey to -28.0, below expectations that indicated a rise to 26.9 – where the index’s improvement in June was supported by an improvement in the assessment of the current economic situation by about 8.9 points.

On the other hand, the index related to the euro area rose to -28.0, compared to -34.3 in the May reading, while expectations indicated a decline to -24.5, despite the improvement in the current situation indicator, with an increase of 8.6 points in June.

Inflation expectations in the euro area fell in the June survey to 32.4 points, about 21.8 points lower than it was in May.

The euro is trading at a high of 1.0455 against the US dollar, after violent declines recorded by the pair yesterday, Monday, affected by the US dollar’s rise.