German Economy Minister: GDP stagnation temporary result of geopolitical tensions

By FXstreet.com | Updated August 14, 2014 AAA

FXStreet (Łódź) - Following the disappointing release of preliminary German GDP numbers for the second quarter of the year the Economy Minister and Vice Chancellor Sigmar Gabriel crossed the wires saying that the economy should expand in the second part of the year.



He suggested that the stagnation resulted from current geopolitical tensions but that it should be a temporary effect. The German official stressed that in the current environment it is crucial to adhere to the established economic strategy.



Meanwhile, the EUR is strong against the dollar on Thursday despite the poor Eurozone GDP and CPI data and the pair is approaching the 1.3400 area.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/USD treading water around 1.0750

  2. Forex News

    EUR/USD could see another bullish attempt – Westpac

  3. Forex News

    Forex Top Movers: US dollar on the offensive; Yen advances

  4. Forex News

    EUR/USD faded the spike to 1.0780

  5. Forex News

    EUR/USD pulled down by EZ inflation and Greece – FXStreet

Trading Center