Tag Archives: Germany

The EUR/USD pair falls due to weaker than expected EU economic data, facing strong headwinds with the energy crisis, and slower economic growth. The US GDP in the second quarter showed signs of contraction, meaning the US is in a “technical recession”.Inflation in Germany tops around 8.6% YoY, while the …

Nord Stream 1 pipeline’s reduced gas flows via the was a significant factor that added more complication to the EU’s plan to fill gas storage units across the continent. The EU’s goal as a whole is to replenish its gas storage to 80 percent full by the end of October. …

The headline German IFO Business Climate Index plunged to 88.6 in July versus last month’s 92.2 and the consensus estimates of 90.5. Meanwhile, the Current Economic Assessment dropped to 97.7 points in the reported month as compared to June’s 99.4 and 98.2 anticipated. The IFO Expectations Index – indicating firms’ projections for …

Russia’s Kommersant newspaper reported on Monday, citing informed sources, that Canada sent a Nord Stream gas pipeline turbine to Germany on a plane on July 17 after completing its repair. It will take another five to seven days for the turbine to reach Russia unless there are problems with logistics …

European natural gas prices surged for a second trading day as investors, market participants and traders are watching Russia’s Nord Stream 1 pipeline on maintenance, speculating when it could be completed and thereafter reopened. The pipeline was shut for planned maintenance that is scheduled to last for 10 days, but …

Nike said revenue dipped 1 per cent to $12.2 billion in the fourth quarter due to inventory pileups, lagging sales in China and ongoing supply chain disruptions, marking the first time the company’s quarterly sales have declined since the first quarter of 2020. “These are times when strong brands get …

The headline German IFO Business Climate Index dropped sharply to 92.3 in June versus last month’s 93.0 and the consensus estimates of 92.9. Meanwhile, the Current Economic Assessment eased to 99.3 points in the reported month as compared to May’s 99.5 and 99.1 anticipated. The IFO Expectations Index – indicating firms’ projections …

Recession-linked Fears are supporting the US dollar, which ended the day with gains. The focus remained on hot inflation and potential recessions among major world economies.Economic Data The EU flash S&P Global PMIs for June painted a gloomy picture as EU economic activity hit a 16-month low, reflecting a stalling …

German Economy Minister Robert Habeck said on Tuesday that the reduced gas supply had “another dimension” and that it was an economic attack by Russia against Germany, as reported by Reuters.Habeck has added that the gas supply situation could become worse than the coronavirus pandemic. Markets have not reacted to …

Germany’s inflation rate, measured by the annual change in the consumer price index, rose 7.9% in May 2022, bringing the inflation rate to an all-time high for the third consecutive month since German reunification. The main reason for higher inflation is still higher energy prices, but George Thiel, head of …