Germany’s Bundesbank issued a report stating that a Q3 contraction is likely to have transpired. The ECB is expected to keep interest rates at 4% according to markets
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.53% 🇪🇺EUR: 0.49...
The report comes ahead of flash German and EU PMI data for October, which is expected to show very little progress, remaining at suppressed levels. The German manufacturing PMI data set – a sector that normally produces strong results - has led the rest of Europe lower.during Q4 2022 and Q1 2023 placed Germany into a technical recession, followed by a flat GDP growth in Q2., despite seeing an uptick in fundamental data, is struggling to reignite prior momentum.
UK unemployment data could help the pair resume the bullish advance as the data has been easing in recent months. UK unemployment is rising at a steady rate, something the Bank of England will be welcoming as UK wage growth accelerated at a slower rate over August.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.
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