German Economy Ministry: COVID-19 restriction measures will continue to weigh on economy in Q1

Dhwani Mehta FXStreet

The extension and tightening of coronavirus restriction measures will continue to weigh on the economy in the first quarter of 2021, the German Economy Ministry said in a statement on Monday.

Additional takeaways

“Industry will continue to be less affected by coronavirus restriction measures compared to spring 2020. “

“Outlook for the industrial economy remains cautious in view of pandemic, semiconductor supply bottlenecks.”

“Prospects for German exports are cautiously positive given the lower impact of lockdown on the industry.”

EUR/USD unperturbed

EUR/USD keeps the higher ground around 1.2140 despite the concerning comments from the German authorities. The spot was last seen adding 0.17% on the day.

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.

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