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
The United States (US) Bureau of Labor Statistics (BLS) will release the critical Nonfarm Payrolls (NFP) data for August on Friday at 12:30 GMT.
Gold Price Forecast: XAU/USD edges higher above $4,100 ahead of delayed US September NFP reportGold price (XAU/USD) attracts some buyers to around $4,110 during the early Asian session on Thursday. The precious metal gains momentum amid the cautious mood and uncertainty over the US economy. Traders will closely monitor the US September Nonfarm Payrolls (NFP) later on Thursday.
Gold price (XAU/USD) attracts some buyers to around $4,110 during the early Asian session on Thursday. The precious metal gains momentum amid the cautious mood and uncertainty over the US economy. Traders will closely monitor the US September Nonfarm Payrolls (NFP) later on Thursday.
Silver (XAG/USD) continues to rise parabolically, up more than 5%, trading above the $80.00 threshold a troy ounce, despite rising US Treasury yields and a strong US Dollar.
Gold (XAU/USD) attracts buyers for the second consecutive day and surges past the $4,100 mark to hit a nearly two-week high during the Asian session on Wednesday.
Bitcoin Price Forecast: Persistent ETF inflows, easing Middle East tensions lift risk appetiteBitcoin (BTC) extends its gains, trading above $64,800 at the time of writing on Thursday, breaking above the key resistance zone. Institutional demand supports BTC price action with spot Exchange Traded Funds (ETFs) recording a third consecutive day of inflows so far this week.
Bitcoin (BTC) extends its gains, trading above $64,800 at the time of writing on Thursday, breaking above the key resistance zone. Institutional demand supports BTC price action with spot Exchange Traded Funds (ETFs) recording a third consecutive day of inflows so far this week.
