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Confidence in the German economy increased more than expected in August, monthly data showing a research institute ZEW. As a reason for this indicates a significant setback in the price of oil and poevtinyavaneto of the euro, which returned the attractiveness of European exports.

The value of investitorskoto confidence index in August was minus 55.5 points, which is 8.4 percentage points more than the measured minus 63.9 in July. Preliminary expectations of analysts were for far more limited improvement to minus 62 points. Against the background of improved expectations for the future, however, a significant deterioration of trkushtite conditions. The index, which traces its level falls to -9.2 points in August, after the value of its month ago amounted to 17.0 points. The forecasts were for a decline to 10 points.

The decrease in the price of oil reflects a positive economic expectations for the euro area as a whole. They rise to minus 55.7 points after month ago their value was 8 points lower at minus 63.7 points. Expectations of economic analysts were expected to worsen to minus 65.5 points in August.

After today’s data euro received some support and managed to advance against the U.S. dollar. At 9:30 hours this morning rate euro / dollar exchange rate was 1,4635 EUR / USD, a single currency at 12:00 am napredna 1,4665 EUR / USD. At 13:30 hours krosat already in 1,4686 EUR / USD