German PMI to cement EUR/USD under parity – Societe Generale EURUSD Germany PMI Manufacturing Banks
pressured below the parity mark, as it would mean that the German economy is on the brink of a recession.“In Europe, national surveys have been stronger than the PMI data, which may give some hope for a stronger figure, but in Germany, gas prices, the water level in the Rhine and inflation are having a devastating impact on business confidence.”
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