According to the German Economy Ministry’s monthly report released on Wednesday, the economic recovery is still in full swing at the end of Q2.
“The overall outlook for the industrial sector remains optimistic.”
“Intermediate product supply bottlenecks have a dampening effect.”
“However, it has no bearing on the broader economy’s good dynamics.”
As markets await the US PPI and Fed Chair Jerome Powell’s testimony, the EUR/USD is consolidating its recovery below 1.1800, leaving it exposed to further losses.
The pair is currently trading at 1.1782, up 0.08 percent on the day as of press time.
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