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Fundamental Forex Analysis

Economic contraction will accelerate in Q2

Economic contraction will accelerate in Q2, the German Economy Ministry said in a statement following the release of the Q1 growth numbers.

Additional comments

“Recession should have reached its low point in April.”

“Indicators in April don’t show signals of hope.”

“But a turnaround appears palpable at the beginning of May.”

EUR/USD off the highs

On the economic contraction, EUR/USD inched a few pips lower from the daily highs of 1.0820 to now trade at 1.0814, still up 0.08%.

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