Free Trial

Weakest German growth for five years gets.....>

FOREX
FOREX: Weakest German growth for five years gets EUR off to a bad start
-While they may have dodged recession in Q4, Germany's GDP data for 2018 was
poor, with the country's statistics agency confirming the weakest growth in five
years at 1.5%. This, twinned with renewed concern over Italian banks and their
non-performing loans exposure, led the EUR lower from the off, with downside
accelerating on a break below the $1.1450 level. Bears now eye the 50-dma at
$1.1383 ahead of the flash crash lows at $1.1309.
-Outside of Italy, equity markets are generally recovering, with US equity
futures following suit. This has helped a modest recovery in AUD, NZD and CAD,
while CHF and JPY underperform. Risk sentiment remains acutely fragile, however,
with the UK parliament's 'meaningful vote' on Brexit due to take place this
evening. Voting on amendments takes place from 1930GMT, with the final vote on
the deal taking place at around 2030GMT. UK PM May is expected to lose
considerably, with the market reaction hinging around the degree of opposition.
-US PPI and appearances from ECB's Draghi, Fed's George, Kashkari and Kaplan are
the calendar highlights.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.