Germany’s DIW: Economy likely to contract 3% in Q1 2021


Germany, Europe’s largest economy probably contracted by 3% in the January to March period, the latest forecasts published by Germany’s economic institute DIW showed on Wednesday.

Key quotes

“Sees Q1 German GDP down 3% QoQ.”

“Sees Q4 German GDP unchanged QoQ.”

“Lockdown measures are gradually impacting the industry as well.”

Market reaction

EUR/USD remains under heavy selling pressure near-daily lows of 1.2120 after the ECB policymaker Klaas Knot said that the ECB is prepared to counter the appreciation of the euro.

The spot quickly eroded over 30-pips on his comments, having faced rejection at 1.2150.

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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

AUD/USD refreshes intraday low near 0.7750 ahead of Aussie Retail Sales, Trade Balance

AUD/USD extends the previous day’s losses from weekly top. RBA failed to entertain markets but Treasury yields stole the show. Risk-off heavies the quote ahead of final readings of key data.

AUD/USD News

EUR/USD retreats to stabilize around 1.2060

The EUR/USD pair advanced to 1.2112 but retreated amid the renewed dollar’s demand on resurgent government bond yields. Attention now shifts to US employment-related data.

EUR/USD News

Gold bears eye sub-$1,700 area amid strong yields, US dollar

Gold remains pressured near nine-month low, fades bounce off $1,702. Bond bears return amid optimism concerning US stimulus and vaccine power, comments from ECB add to the Treasury yield rally. American covid aid package, Fed’s Powell eyed amid a light calendar in Asia.

Gold News

Dogecoin price on the brink of a 40% explosion towards $0.07

Dogecoin price has been trading sideways for the past two days and inside a downtrend since its new all-time high of $0.087 on February 7. Now, the favorite canine-cryptocurrency is ready for a new leg up.

Read more

DXY continues to gain on Wednesday, eyes 91.60

US dollar firm and approaching Feb 4th highs from a significant technical support structure. US economy moderately gathering pace according to the Fed's Beige Book.

US Dollar Index News

Forex MAJORS

Cryptocurrencies

Signatures