German IFO Business Climate Index came in at 92.3 in June. IFO Current Economic Assessment eased to 99.3 this month. June German IFO Expectations Index arrived at 85.8 The headline German IFO Business Climate Index dropped sharply to 92.3 in June versus last month’s 93.0 and the consensus estimates of 92.9. Meanwhile, the Current Economic … Read more
Following the release of the German IFO Business Surveythe institute’s Economist Klaus Wohlrabe said that “the worry lines in the German economy are getting bigger.” Additional quotes Index has fallen significantly in industry and retail. Expectations are more pessimistic. Despite increased uncertainty, there are no signs of a recession at the moment. Threat of gas … Read more
German Economy Minister Robert Habeck said on Tuesday that the reduced gas supply had “another dimension” and that it was an economic attack by Russia against Germany, as reported by Reuters. Habeck further argued that the gas supply situation could become worse than the coronavirus pandemic. Market reaction These comments don’t seem to be having … Read more
German Chancellor Olaf Scholz said on Monday that energy prices will remain high for a long time, as reported by Reuters. Additional takeaways “Putin is scared of the spark of democracy that could spread to Russia.” “This fear explains why he has tried to break up NATO and the EU for years.” “Putin wants to … Read more
German ZEW Economic Sentiment arrived at -34.3 in June vs. -34.3 previous. The ZEW Current Situation for Germany came in at -36.5 in June vs. -36.5 prior. EUR/USD keeps its range below 1.0500 on downbeat German and Eurozone data. The German ZEW headline numbers for June showed that the Economic Sentiment Index unexpectedly remained unchanged … Read more
Today, the German ZEW will be watched closely. Improved economic sentiment could lift the EUR/USD pair to 1.05, economists at ING report. All eyes on the ZEW “The consensus expects some improvement in both the expectations and current situation surveys. This is likely to materially mitigate the market’s concerns about the upcoming slowdown in the … Read more
German Factory Orders fell 2.7% MoM in April. German Retail Sales arrived at -6.2% YoY in Apr vs. -3.1% previous. EUR/USD keeps range below 1.0700 amid dismal German data. The German Factory Orders declined in April, suggesting that the manufacturing sector downturn in Europe’s economic powerhouse is deepening. Contracts for goods ‘Made in Germany’ dropped … Read more