German FinanceMin: German exports stabilized, but trade risks remain
On Thursday, the German Finance Ministry, in its monthly report, highlighted the risks of global economic slowdown and ongoing trade war while expecting the country’s exports to stabilize by end-Q3 2019, per Reuters.
Key Findings:
“Export activity regained some momentum toward the end of the third quarter.”
“Given the weakening global economic momentum and persistent external risks (for trade), exports are likely to continue to develop only moderately.”
“Record-high employment and rising wages continue to support private consumption and construction in Germany while state spending is giving the economy an additional push.”
- EUR/USD technical analysis: 50% Fib capping upside, bearish hammer on D1
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