According to a report in the Financial Times Deutscheland, the German government sees exports falling 8.9% while equipment investment will slide 11.9%. With Germany heavily reliant on exports of machinery, etc, the global slowdown will take a significant toll on German growth this year.
EUR/USD is consolidating losses at 1.3142. Session lows are at 1.31325 while moderate Fibo support lies at 1.3111, the 76.4% retracement of the 1.3025/1.3385 rally.
