Germany's IFO institute out with latest note 21 March
Comments echo those from the ZEW yesterday
- confirms growth f/c of 2.6% in 2018 and 2.1% in 2019
- huge income tax cuts in US and robust economic upturn in EZ are boosting demand for German goods and services
- reform of tax system laid in German coalition agreement is disappointing
- answer needed to corp tax cuts in US, UK and France
Question, if people are so bullish for an ongoing global economic recovery why are many major nations lowering their growth forecasts for next year and beyond? Just saying. Maybe consolidation at a lower level is a good thing. What do you think?
Meanwhile USDJPY still holding 106.30 and EURSD 1.2277 trawling around near session highs but also pinned down by larger option interest today
IFO- Concerns over tariffs and higher euro
