The powerful Ifo Institute, one of the leading economic think tanks in Germany, has trimmed its German GDP forecast again. It now projects GDP to fall 6.3% this year from an earlier forecast of a 6.0% slide. Next year they see growth falling a further 0.3%.

No worries for EUR/USD, it is making a run at 1.4000 to see if a barrier is there. Resistance is at 1.4011.