In an interview with German broadcaster SWR, the head of the country’s influential IFO institute, Clemens Fuest, said that he sees a recession in Europe’s most powerful economy due to the coronavirus crisis. Further comments Sees the world on the brink of an economic crisis and that there are parallels to the year 2008 when the financial crisis broke. Germany’s government had acted correctly by facilitating access to the short-time work allowance. But more must be done. Germany’s Altmaier: Main priority is to slow the spread of the coronavirus to avoid recession EUR/USD: Further correction on the cards? With markets predicting a German recession, clearly there are increased chances that the European Central Bank (ECB) would likely cut the key rate this week. In light of the potential ECB move, the shared currency could extend its corrective slide against the US dollar. At the time of writing, EUR/USD is bouncing off the session low of 1.1322 and trades at 1.1362, still down 0.72%. FX Street 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 Post By FX Street FXStreet News share Read Next ECB: Pressure for action – Deutsche Bank FX Street 3 years In an interview with German broadcaster SWR, the head of the country’s influential IFO institute, Clemens Fuest, said that he sees a recession in Europe’s most powerful economy due to the coronavirus crisis. Further comments Sees the world on the brink of an economic crisis and that there are parallels to the year 2008 when the financial crisis broke. Germany's government had acted correctly by facilitating access to the short-time work allowance. But more must be done. Germany’s Altmaier: Main priority is to slow the spread of the coronavirus to avoid recession EUR/USD: Further correction on the cards? With markets… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
