- 2021 GDP forecast revised to +4.4%; previously +5.2%
This confirms the reports from earlier today but Altmaier is offering relatively upbeat remarks surrounding the economic situation in general.
Alongside the remark on a V-shaped recovery, he also says that Germany has managed to preserve the essence of the economy and does not expect another lockdown similar to that seen in March and April this year.
Adding that he expects a return to pre-virus levels at the beginning of 2022.
The EUR/USD is locked inside of the trading range between the price at 1,1996 (resistance) and support at 1,1962.
Further Development
Analyzing the current trading chart of EUR/USD, I found contraction on Bollinger bands, which is clear sign that today we got contraction on the EUR.
1-Day relative strength performance Finviz
Based on the graph above I found that on the top of the list we got Ethanol and Platinum today and on the bottom Orange Juice and Nautral Gas
Key Levels:
Resistance: 1,1996
Support level: 1,1962
