Investing.com - German business confidence remained solid in November, but the outlook for business deteriorated slightly, according to data released on Thursday.
The Munich-based Ifo institute said its business climate index ticked down to 110.4 this month from 110.5 in October.
Economists had expected a reading of 110.5.
The current assessment index increased to 115.6 from 115.1 a month earlier, against expectations for 115.0.
The business expectations index, which measures attitudes toward business prospects over the next six months, ticked down to 105.5 to this month from 105.9 in October, compared to estimates for a reading of 106.0.
The monthly index is based on a survey of around 7,000 German firms in the manufacturing, construction, wholesale and retail sectors.
EUR/USD was trading at 1.0557 from around 1.0556 ahead of the release of the data, while EUR/GBP was at 0.8493 from 0.8494 earlier.