This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
The European Commission released its winter forecast.
The report was slightly optimistic, pointing to a path of steady but moderate growth. The growth projections were unchanged.
The economy is forecast to grow at a rate of 1.2% both this year and in 2021 as well. Inflation forecasts were raised from 1.2% to 1.3% for this year.
Germany Inflation Falls 0.6% in January
The final inflation figures for Germany for January saw consumer prices falling. The decline was that of 0.6% during the month and was in line with the flash estimates.
Despite the decline, on a yearly basis, inflation hit a six-month high as CPI rose 1.7% on the year.
EURUSD Loses Support, Declines Further
The common currency failed to hold on the support area near 1.0897 and fell to a fresh yearly low. Price action remains biased to the downside amid the fundamentals also supporting this view.
The declines also mark a new low since mid-2017...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.