A few pessimistic comments from German Fin Min Steinbrueck hitting the wires at the moment saying that Industry, unions and the Government agress that the economic slowdown is not losing pace and that he’s seeing signs that big firms are having serious trouble refinacing.
Eur/Usd has turned tail at 1.2920 after some decent Asian central bank buying and is now testing offers again parked at 1.2990/1.30
The German economy minister Guttenberg is now joining in saying that the economy fell massively in Q1, but the goes on to say that it does not make sense to pursue a third stimulus package.