The Euro was in retreat from the Dollar Thursday after Germany's Destatis revealed a larger-than-expected second-quarter economic contraction amid deepening losses in European stock markets.
Data out of Germany today confirms Europe's largest economy narrowly avoided falling into a technical recession at the turn of the year, but one economist tells us improvements in performance are likely in 2019.
The Euro-to-Dollar rate outlook has dimmed further in recent days as economic and political headwinds are increasingly weighing on the single currency, leading analysts at Westpac to advocate selling the EUR/USD rate short.
Germany’s increasing reliance on the UK for a large share of its export book has meant that the 10% fall in the Pound has reduced demand for more expensive German imports.