In latest outlook on the economy, Germany’s DIHK Chambers of Industry and Commerce highlighted that a quick or a V-shaped recovery is likely "off the table".
“Half the German companies sees return to normalcy in 2021 at the earliest.”
“A third of the German companies sees return to normalcy in 2020.”
“More than 40% of German companies are reporting liquidity shortages.”
With the fears over the coronavirus second-wave gripping the markets once again, the risk sentiment has turned sour in Europe, which has put a bid under the safe-haven US dollar.
Therefore, EUR/USD remains pressure around 1.1220, having recovered from daily low of 1.1204 ahead of the Eurozone Preliminary CPI data.
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