As the euro enters the new year, the market has indicated that trade will likely be the key focus for the economy.
Germany is the largest economy within the Eurozone and investors in the euro will be hoping that it’s trading can pick up in the new year, especially following the news that the US-China trade deal is set to be signed very soon.
Investors will be hoping that Germany will lead the way in bringing back the Eurozone’s trading figures going into 2020. IFO business sentiments were released in December and the figures were a surprise to many. The figures rose from 95.1 to 96.3 with the forward looking IFO business expectation rose to 93.8. These figures brought positive support to the euro as analysts had previously predicted a lower number. More news from the German import prices were released this week, it showed a slower decline than was expected in November, optimists will be hoping that this will pave the way for an economic reversal on Germany’s part heading into 2020.
Investors in the euro will also be wise to keep an eye on the unfolding’s from the US-China deal. Both Trump and Chinese officials have stated that a ceremony will be arranged very soon in which the deal will be signed. Upon signing, the details of the agreement are likely to emerge. With the deal sealed, the euro will likely benefit from the increased lift to the manufacturing sector.
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