Germany’s central bank, the Bundesbank, said in its monthly economic report published on Tuesday that the “German economic output could increase slightly in Q3.”
Additional takeaways
German economic output could increase slightly in Q3.
Recovery further delayed but recession not seen.
We can expect a temporary rise in the German inflation rate towards the end of the year on the energy base effect.
German Negotiated Wage Growth data came in at 3.1% in Q2 vs. 6.2% In Q1.
German Negotiated Wage Growth excluding one-offs arrived at 4.2% in Q2 vs 3.0% in Q1.
Market reaction
The Bundesbank report failed to have any impact on the Euro, as EUR/USD kept its consolidative mode intact at around 1.1080, at the time of writing. The pair is down 0.06% so far.
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.05% | -0.10% | -0.15% | -0.17% | -0.04% | -0.77% | -0.36% | |
| EUR | -0.05% | -0.16% | -0.21% | -0.20% | -0.07% | -0.52% | -0.41% | |
| GBP | 0.10% | 0.16% | -0.04% | -0.05% | 0.11% | -0.36% | -0.26% | |
| JPY | 0.15% | 0.21% | 0.04% | -0.01% | 0.11% | -0.33% | -0.23% | |
| CAD | 0.17% | 0.20% | 0.05% | 0.00% | 0.13% | -0.30% | -0.22% | |
| AUD | 0.04% | 0.07% | -0.11% | -0.11% | -0.13% | -0.45% | -0.36% | |
| NZD | 0.77% | 0.52% | 0.36% | 0.33% | 0.30% | 0.45% | 0.08% | |
| CHF | 0.36% | 0.41% | 0.26% | 0.23% | 0.22% | 0.36% | -0.08% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Source: https://www.fxstreet.com/news/bundesbank-german-economic-output-could-increase-slightly-in-q3-202408201021