Germany Cuts Growth Forecast, UK Enforces Border Controls
Login

Germany Cuts Growth Forecast, UK Enforces Border Controls

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

The dollar, yen, and Swiss franc have strengthened again today as the fall in European stocks weakened. The mood is somewhat softened by the UK plan to introduce stricter border measures.

Germany has cut its growth forecasts for this year. Commodity currencies declined in line with the general risk sentiment.
The German government cut its growth forecast for 2021 to 3%, sharply below last fall’s forecast of 4.4% due to the second round of coronavirus isolation.

Gfk consumer confidence in Germany fell to -15.6 in February from -7.5, well below the -7.8 forecast. In January, economic expectations fell from 4.4 to 1.3. Income expectations fell from 3.6 to -2.9. The propensity to buy plummeted from 36.6 to 0.0.

Rolf Bürkl, GfK Consumer Expert: “In the first quarter of this year, consumer sentiment faced serious challenges. For sustained recovery, infection rates must drop more than they are today so that interventions can be significantly reduced. This means we need to wait a bit before we see the recovery that many were hoping for this year. ”
UK Enforces Border Controls
British Prime Minister Boris Johnson said Wednesday that ministers will announce new, tougher border measures on the same day. Just 10 days before the first isolation from Covid-19 last March, the UK abandoned its short-lived policy of quarantining travelers from hazardous overseas locations.

While other countries have imposed stricter travel restrictions to combat the pandemic, Downing Street did not implement border measures for almost three months before early June. This was a “very unusual” approach, according to a terrifying parliamentary report released last year.

The chatter about British politicians’ push for a complete border closure and the worsening coronavirus (COVID-19) situation in the UK seems to be challenging bulls of late. However, the risk sentiment emanating from the new government in the US is pushing up the quotes.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News