Bundesbank cuts 2020 German growth forecast, EUR/USD unfazed around 1.1165

In its monthly economic assessment report, Germany’s central bank, Bundesbank (Buba), slashed the German growth and inflation forecasts for 2020.
Key Details:
Sees German GDP at +0.5% in 2019 versus +0.6% in June forecast.
Sees German GDP at 0.6% In 2020 versus 1.2% In June forecast.
Sees German GDP at 1.4% In 2021 versus 1.3% In June forecast.
The shared currency shrugs-off the downbeat forecasts, as EUR/USD consolidates the retreat from four-month tops near the 1.1160 region.
Author

Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
















