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.
Recommended Articles
US Bitcoin spot exchange-traded funds (ETFs) have seen more inflows this year so far compared to the same point in 2024, according to data.
The Gold price (XAU/USD) gains momentum to near $3,645 during the early Asian session on Thursday.
Silver price (XAG/USD) halts its three-day losing streak, trading around $47.60 per troy ounce during the Asian hours on Wednesday.
The US Dollar (USD) stabilizes in the European morning on Wednesday after gathering strength against its major rivals for five consecutive trading days.
Both the on-chain and derivatives data suggest weak sentiment among retail and long-term holders.
