Econ min and dep chancellor on the wires from Berlin

  • expects growth of between +1.7-1.8%
  • Germany can't rely on low oil price, exchange rate

Earlier the BDI stuck with their more optimistic/hopeful forecast of +2%

In Sept Moody's came up with +1.5%

Last month the German govt cut its 2015 forecast to 1.7% from 1.8% citing economic slowdown in China and other EMs

Take your pick

Meanwhile EURUSD has stalled just ahead of the 1.0965 demand/support I highlighted earlier, and now 1.0982

Gabriel - still looking on the bright side