Home Germany’s Scholz: If global trade tensions subside, growth will pick up

Germany’s Scholz: If global trade tensions subside, growth will pick up

Published date: 7 Nov. 2019 | 11:32

German Finance Minister Olaf Scholz crossed the wires in the last minutes arguing that the German economy is still strong with the unemployment rate staying at record low levels and added that growth will pick up if global trade tensions subside.

Earlier in the day, the European Commission in its latest Economic Growth Forecasts announced that it cut Germany’s Gross Domestic Product (GDP) growth expectation to 0.4% from 0.5% for 2019 and to 1% from 1.4% for 2020.

The EUR/USD pair largely ignored these comments and was last seen trading at 1.1085, up 0.17% on the day.

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.