Germany’s Economy Minister Altmaier came out on the wires last hour, via Reuters, making some comments on the German economic growth outlook.
Germany’s growth outlook is clouded but there is no full economic crisis.
Now is not the right time to discuss the end of black zero budget policy.
Despite the broad comeback in the US dollar, the EUR/USD pair manages to hold the 1.09 handle heading into the US ADP jobs data release.
EUR/USD has risen toward 1.10 after US ISM Non-Manufacturing PMI plummeted to 52.6 points, the worst in three years. Fears of a recession and further monetary stimulus weigh on the dollar.
GBP/USD has risen above 1.24 after weak US data sent the dollar plunging. Earlier, the pound advanced as Conservatives seem untied around PM Johnson’s Brexit plan. The EU’s Tusk said the bloc is still unconvinced.
The USD/JPY pair lost more than 50 pips in a matter of minutes in the American session on Thursday after the data published in the United States revealed that the business activity in the service sector expanded at a much softer pace than expected in September.
Fears of a US recession are growing after ISM’s Purchasing Managers’ Index for the Non-Manufacturing sector has dropped to 52.6 points in September – the worst in three years – and indicating a slowdown in America’s largest sector.
The largest portion of the American economy continued its long running expansion but with waning energy in September weighed down by trade issues and a contracting factory sector.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.