The US Parties Lead the Country to a Default
When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
German industrial orders go down 4.2% in February
In February, German industrial orders tumbled at their sharpest tempo for over two years because they were affected by a dive in foreign demand, backing fears that the EU’s number one economy had a poor start to 2019.
As a matter of fact, contracts for German goods went down by about 4.2%, as follows from data provided by the Economy Ministry on Thursday. It definitely differs from a 2.1% dive in January, updated from a 2.6% sink.
The sudden decrease turned out to be the steepest outcome since January 2017, thus confounding estimates for a 0.3% rally.
Apparently, dismal new order data drops a hint that German industry is still suppressed by Brexit woes as well as global uncertainties, as some experts pointed out.
Worries about the weakness of the manufacturing sector are affecting the outlook for the German economy that faces headwinds from a decelerating global economy, international trade clashes, to say nothing of the threat of the United Kingdom leaving the European bloc without an agreement.
In the nearer future, the German economy will be most probably sluggish, in particular, due to a lack of foreign demand.
In February, data disclosed that foreign orders slumped by approximately 6%, with a 7.9% tumble from non-euro zone countries as well as a 2.9% dive within the euro zone. In addition to this, domestic contracts headed south by about 1.6%.
Germany's leading economic institutes have reduced their 2019 surge estimate for Germany to 0.8% from a previous 1.9% forecast, as two sources revealed, already familiar with the report to be uncovered on Thursday, said Reuters.
Similar
The Sentiment is Bearish for the EUR
The US Consumer sentiment will shake the market today. We are back with more news for you to enjoy!
CPI Wednesday: the Doomsday for EURUSD and GBPUSD?
Today, the US Inflation release at 15:30 GMT+3 will determine the further destiny of the major pairs and gold. The event is highly impactful, as the Federal Reserve will make decisions regarding further rate hikes based on it. Also, we brought you some news about XAUUSD and GBPUSD. Stay tuned!
Latest news
Gold Rises as Central Banks Buy More
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
US Evades Default This Time
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
USD Gains Momentum
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
