More weakness in the German economy to be expected?
|Important news for the day
Chemical industry
Recent figures from the chemical industry in Germany have been the lowest since 2009. The industry, which is considered as a leading indicator, might hence signal an increase of negative momentum of the economy. High taxes, energy prices and bureaucracy would add a high burden to companies causing a lack of competitiveness. Orders have weakened substantially as well as the capacity utilisation of chemical plants.
Market talk
Another round of strength in the Dollar seems to rattle through markets. As it seems that markets continue to favour the Greenback, the GBPUSD currency pair has broken through an important support zone. With the break of the 1.2300 level, the market might proceed to the downside further. The weakness in particular of the AUD might signal that equities could continue with their currency correction.
Tendencies in the markets
- Equities weak, USD strong, cryptos weaker, oil weaker, Silver positive, Gold positive, JPY weak.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.