Germany is facing multiple serious challenges but the falling water levels along the Rhine riverway are not among them and even for the industrial engine of Europe's largest economy, they're only a marginal issue, according Barclays.
The Euro was treading water Tuesday after overlooking a better-than-expected ZEW survey for June as currency markets appeared to focus instead on an increase in geopolitical tensions ahead of Thursday's European Council meeting, the highlight of the week for the single currency.
German factory orders plunged in their worst monthly drop since January 2017, and one economist tells us the hard times for German industry are not yet over.
Germany's all-important manufacturing sector slumped into contraction in February, exacerbating fears that the Eurozone's largest economy has been unable to extricate itself from an ongoing slump in activity.