So says the economic ministry in their latest report
- Chinese stock markets not impacting German sentiment
Maybe not. But what about the devaluation moves now ?
- foreign trade probably provided positive impetus for Q2 growth
- private consumption remains important pillar
- economy is solid upswing during summer
- indicators suggest domestic demand investment activity was probably rather subdued
- conditions for construction sector remain favourable for recovery in rest of year
Meanwhile the euro remains the chosen one but having a little reality check is falling back from its heady highs achieved in a rush this morning
Expect demand in the dips still
EURUSD 1.1127 after 1.1157 highs, EURGBP 0.7147 from 0.7171