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The International Monetary Fund (IMF), in its latest report, trimmed global growth forecasts. For the year 2020, the IMF expects growth to rise by 3.3%. This is slightly higher in comparison to the 2.9% forecasts which grew in 2019.
However, despite the increase, the pace of growth is seen to be one of the slowest. By 2021, growth is forecast to rise slightly to 3.4%.
German Producer Prices Rise 0.1% in December
German producer prices were seen rising 0.1% on the month in December. The data was slightly above estimates as economists forecast a flat reading. The increase in producer prices was also higher compared to the flat reading in November. The euro was, however, unmoved as the declines continue.
EURUSD Continues to Drift Lower
The common currency continues its declines as it dipped to a one month low. Price action remains weak but it currently trades within the support area of 1.1100 and 1.10725. The Stochastics oscillator remains in the oversold level, however, and could indica...
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