German economic sentiment continues sliding, but doesn’t crash: 29.7 points in July. Current conditions actually rose to 63.9 points. Euro-zone industrial output fell short with a fall of 0.4% m/m and a rise of only 1.6% y/y.
EUR/USD ticks down, but the focus remains on Athens.
The German ZEW Economic Sentiment was expected to drop to 29 points in July from 31.5 in June. The Current Conditions component was predicted to slip from 62.9 to 60 points. The all-European figure carried expectations for a slide from 53.7 to 51.1 points.
EUR/USD was trading around 1.1030 towards the publication, moving on news about trouble in implementing the Greek deal. Resistance is at 1.1050 and 1.0915 serves as support.
Industrial output was predicted to rise by 0.2% in May after 0.1% in April.
Greek crisis – all the updates
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