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Fundamental Forex Analysis

Economy to contract by 6.6% in 2020

Germany’s influential IFO institute said in a report on Tuesday, it sees the economy contracting by 6.6% YoY in 2020.

Additional headlines

Sees economy contracting by 1.9% in Q1, 12.2% in Q2.

German economy to return to pre-crisis level at end of 2021.

EUR/USD: Recovery mode intact

EUR/USD is off the 1.0810 lows and recovers to 1.0830, almost unchanged on the day. The German economic forecasts by IFO fails to deter the EUR bulls for now.

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