Germany’s Bundesverband der Deutschen Industrie (BDI), a powerful industry association, slashes the economic growth forecasts for this year to 3% from 3.5% due to ongoing lockdown measures in Europe’s biggest economy. Additional quotes “The industry association sees industrial production growth of 8% in 2021.” “The association raises forecast for export growth to 8.5% from previous forecast of 6%.” Separately, Germany’s VDMA President Karl Haeusgen said, “we are raising our previous forecast by three percentage points and now expect real production growth of 7% for 2021.” Market reaction EUR/USD holds the lower ground below 1.1900 amid broad-based US dollar comeback, as safe-haven flows favor the greenback amid Europe’s struggle with surging covid cases. The spot was last seen trading at 1.1877, down 0.15% on the day. 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 USD/CHF struggles for direction, stuck in a range around mid-0.9200s FX Street 2 years Germany's Bundesverband der Deutschen Industrie (BDI), a powerful industry association, slashes the economic growth forecasts for this year to 3% from 3.5% due to ongoing lockdown measures in Europe's biggest economy. Additional quotes "The industry association sees industrial production growth of 8% in 2021." "The association raises forecast for export growth to 8.5% from previous forecast of 6%." Separately, Germany's VDMA President Karl Haeusgen said, "we are raising our previous forecast by three percentage points and now expect real production growth of 7% for 2021." Market reaction EUR/USD holds the lower ground below 1.1900 amid broad-based US dollar comeback, as… 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.
