According to a survey published by Germany’s high-influential IFO on Monday, the morale of the German exporters deteriorated further in August due to weak global demand.
Key takeaways
“Export expectations slipped further to -6.3 points from -6.0 in July.”
“German exporters continue to struggle with weak global demand.“
“More and more companies are also complaining about being less able to compete at the global level.”
Market reaction
EUR/USD was last seen trading at 1.0817, up 0.16% on the day.
Source: https://www.fxstreet.com/news/ifo-german-exporters-pessimistic-on-weak-global-demand-202308280618