Search ForexCrunch

In its monthly report on Monday,  “Germany’s economic output could have shrunk again slightly in the third quarter of 2019,”  the Bundesbank, Germany’s central bank, noted, citing continued downturn in the export-oriented industry.

“Early indicators currently provide few signs of a sustainable recovery in exports and a stabilisation of the industry,”  the central bank added in its publication.  “This raises the risk that the slowdown extends to a greater extent to more domestically oriented sectors.”

The EUR/USD pair seems to be pulling away from daily highs in the last minutes. As of writing, the pair was down 0.05% on the day at 1.1163.