Following the release of the German IFO Business Survey, the institute’s Economist Klaus Wohlrabe said that “there is a slight easing of supply shortages in the industry.”
Additional quotes
German economy starts new year with glimmer of hope.
It is too early to talk about a turnaround of economic situation.
Raw materials and preliminary products supply issues have eased.
Delivery bottlenecks in retail have also eased.
No easing of prices, at least every second industrial firm planning further price hikes.
Export expectations of industry have improved significantly.
EUR/USD reaction
EUR/USD remains pressured near 1.1300, shedding 0.22% so far. The focus remains on Wednesday’s Fed decision and the Russia-Ukraine crisis.