The German economy remains weak and the single currency is starting to struggle against the US dollar and Sterling
"The German economy ended 2023 in negative territory. In the final quarter, declining investment had a dampening effect on economic activity, while consumption increased slightly," saidRuth Brand, President of the Federal Statistical Office.
In the first three quarters, GDP largely stagnated amidst a still challenging global economic environment. For the whole year of 2023, the most recent calculations have confirmed the year-on-year decline in economic performance of 0.3% .The latest German Ifo readings were also released today with the headline business climate number in line with market expectations at 85.5, and a fraction higher than January’s reading.
We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. This information is made available for informational purposes only. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Forecast: Break through 1.0700 on the tableThe EUR/USD pair bottomed for January at 1.0723 on Monday and trades nearby as the new day develops.
Read more »
EUR/USD Forecast: Cautious buying loses momentumFinancial markets extend the cautious trading on Wednesday amid mixed comments from Federal Reserve (Fed) officials and Chinese woes, although the US Dollar remains under modest selling pressure.
Read more »
EUR/USD Forecast: Euro remains stuck between key technical levelsFollowing a two-day rebound, EUR/USD failed to preserve its bullish momentum and closed virtually unchanged on Thursday.
Read more »
EUR/USD Weekly Forecast: Market players not getting what they wantThe EUR/USD pair remained under selling pressure throughout the week, extending its slide to a fresh 2024 low of 1.0722 on Monday.
Read more »
US Dollar Forecast: EUR/USD, GBP/USD and USD/JPY Price Action SetupsNext week US CPI headlines the schedule of high importance data. This forecast considers how major currency pairs shape up ahead of the US CPI release
Read more »
Markets Week Ahead: Gold Dips as Stocks Fly; EUR/USD, GBP/USD Await US InflationThe week ahead is likely to bring elevated volatility for stocks, gold prices, U.S. Treasury yields and currency markets, courtesy of a high-impact event on the U.S. economic calendar: the release of the January inflation report.
Read more »