According to German magazine Der Spiegel, the German government will cut its 2020 growth forecast to 1.1% from 1.5% announced in April's forecast while leaving the forecast for 2019 unchanged at 0.5%.
Responding to these claims, a spokeswoman for Germany's economy ministry said that government's latest gross domestic product (GDP) forecasts were not yet finalized.
Meanwhile, Reuters reported that two sources familiar with the matter said that there will be a significant cut to Germany's 2020 growth forecast.
The EUR/USD pair eased from its session highs on these headlines and was last seen trading at 1.1040, adding 0.35% on a daily basis.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.