ZEW institute July German economic sentiment index weaker than expected

The ZEW Institute July German economic sentiment index has come in at 39.5, down from 44.8 in June, and demonstrably weaker than the median forecast of 47.8.

Elsewhere euro zone May industrial production has come in at +0.5% m/m, -17.0% y/y, compared to median forecasts of +1.5% and -17.5% respectively.

EUR/USD presently lies at 1.3985, pretty much where we started out the day.

Long live the stunned mullet!!!!