Commodities Buzz: German Economic Confidence Remains Stable

Germanys economic sentiment remained unchanged in May, survey data from the Mannheim-based think tank ZEW showed Tuesday. The ZEW Indicator of Economic Sentiment held steady at -8.2 in May, the lowest since late 2012. The score also matched economists expectations. The US decision to back out of the nuclear treaty with Iran and fears of a further escalation of the international trade conflict with the US, as well as a further rise of crude oil prices, have had an overall negative impact on economic expectations in Germany,