According to the recent economic reports coming from Germany, the local economy as been showing stable growth over the next couple of months, Market Leader reports. Bundesank reports that the economic growth has been backed by new migrants coming to Germany and their spending as well as an increase in the German household income. This is what the central bank underlined in its monthly report.
According to the mentioned report published by the central bank, the recent sharp decline in oil prices triggered higher consumer spending in Germany. Strange as it may seem, the public spending on new migrants also contributed to the economic growth seen over the reporting period.
Still, the central bank reported a slowdown in the German GDP growth. In particular, the Germany economy shown almost zero growth in Q4 2015 relative to the previous reporting period. More specifically, the recent quarterly GDP growth happened to be equal to as little as 0.3%. Still, the local consumer spending saw an increase mainly due to much lower fuel and energy prices along with higher household income and employment.
FOREX
Meanwhile, Masterforex-V Academy reports that the common European currency is still trading within the scope of the 1,0523-1,1058 price range against the U.S. Dollar. Please keep in mind that the boundaries of the price range are now acting as the closest level of support and resistance. Therefore, they are crucial for determining the near-term fate of EURUSD.
