Germany's Bundesbank: Germany likely in recession now
Source Fxstreet
In its monthly report published on Monday, Germany's Bundesbank said that Germany is likely in recession now, citing weak external demand, muted consumption and cautious investments.
"There is still no recovery for the German economy," the publication read. "Output could decline again slightly in the first quarter of 2024. With the second consecutive decline in economic output, the German economy would be in a technical recession."
Market reaction
EUR/USD pair showed no immediate reaction and was last seen trading modestly higher on the day at 1.0780.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Top 3 Price Prediction: BTC struggles below key resistance, ETH and XRP eye further weaknessBitcoin (BTC) price steadies around $108,500 at the time of writing on Wednesday, after facing rejection from the key resistance level the previous day. Ethereum (ETH) and Ripple (XRP), following BTC’s footsteps, are signaling weakness and hinting at a correction ahead.
Bitcoin (BTC) price steadies around $108,500 at the time of writing on Wednesday, after facing rejection from the key resistance level the previous day. Ethereum (ETH) and Ripple (XRP), following BTC’s footsteps, are signaling weakness and hinting at a correction ahead.
