German economic ministry statement out on the wires 12 Dec

  • global economic environment remains difficult but seems to be gradually brightening up a bit

A glass half-full again from the German econ min but I recall them being similarly misguided after Q2

  • reduction in unemployment is being slowed by refugee intake

You mean you didn't see that one coming?

Meanwhile EURUSD remains on the back foot seemingly buoyed only by EURJPY demand