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AceTraderFx Aug 13: Intra-Day Market Moving News & Views EUR/USD
Intra-Day Market Moving News and Views
EUR/USD - .... Fundamentally, yesterday's downbeat German ZEW investor confidence does not bode well for Germany & the euro. WSJ reported the German economy is struggling. And, worryingly, that might not just be down to Russia. Tue's ZEW survey of analyst n investor expectations, fell for the 8th month running in Aug. What's more, the figure failed even to meet forecasters' modest expectations.
Although pundits have been quick to ascribe the weakness to Russia's conflict with Ukraine n subsequent western sanctions on Russia. On the other hand, maybe the survey's softness shouldn't be a surprise. German industry has been misfiring during recent months. Factory orders slumped 3.2% on the month in Jun. May's ind. production data posted their biggest drop in 2 years n only registered a modest rebound in Jun, well short of expectations.
Russian trade made up a mere 3.8% of total German trade in 2013. There are signs the euro zone's recovery might be running out of steam. Italy, the single currency's 3rd biggest economy, slipped into yet another recession during the 2nd quarter. France, the 2nd largest economy, is likely to be in recession or on its way.
Germany found an outlet for its exports in the wider global economy during the euro-zone crisis, conditions in the developing economies are also looking tougher. Thur's 2nd quarter German GDP data are likely to show no growth or even a modest contraction, though economists are confident in a rebound during the second half of the year. But that might be a shade optimistic given the squeeze German exporters are facing from all sides.
Intra-Day Market Moving News and Views
EUR/USD - .... Fundamentally, yesterday's downbeat German ZEW investor confidence does not bode well for Germany & the euro. WSJ reported the German economy is struggling. And, worryingly, that might not just be down to Russia. Tue's ZEW survey of analyst n investor expectations, fell for the 8th month running in Aug. What's more, the figure failed even to meet forecasters' modest expectations.
Although pundits have been quick to ascribe the weakness to Russia's conflict with Ukraine n subsequent western sanctions on Russia. On the other hand, maybe the survey's softness shouldn't be a surprise. German industry has been misfiring during recent months. Factory orders slumped 3.2% on the month in Jun. May's ind. production data posted their biggest drop in 2 years n only registered a modest rebound in Jun, well short of expectations.
Russian trade made up a mere 3.8% of total German trade in 2013. There are signs the euro zone's recovery might be running out of steam. Italy, the single currency's 3rd biggest economy, slipped into yet another recession during the 2nd quarter. France, the 2nd largest economy, is likely to be in recession or on its way.
Germany found an outlet for its exports in the wider global economy during the euro-zone crisis, conditions in the developing economies are also looking tougher. Thur's 2nd quarter German GDP data are likely to show no growth or even a modest contraction, though economists are confident in a rebound during the second half of the year. But that might be a shade optimistic given the squeeze German exporters are facing from all sides.