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Estimates from five of Germany's leading research institutes – Q1 GDP likely shrank by 1.9% – Q2 GDP estimated to contract by 9.8% – On the year, German economy likely to shrink by 4.2% ForexLive

Comments by London mayor, Sadiq Khan – UK is probably still a week-and-a-half away from virus peak As mentioned earlier in the week, the next step for governments is to manage expectations surrounding the virus outbreak and easing of lockdown measures.

Germany seems to be hinting that they are in solidarity with the rest of the bloc here ForexLive In this difficult hour you have to #Europa stand close together. Together with @BrunoLeMaire I therefore call on all euro countries not to refuse to solve these difficult financial questions and to enable a good compromise – […]

Further comments by UK junior health minister, Edward Argar ForexLive

The mixed tones in risk certainly isn't helping as well ForexLive On Monday, the pair moved higher as dollar gains were accompanied by a more positive risk mood in the market; with the greenback holding its ground against the euro and EM currencies helping somewhat.

AUD/USD is trading lower but not extending to the downside so far today ForexLive The pair backed off after an attempt to hold a break above 0.6200 in overnight trading, with the late fall in US stocks also not helping the aussie as the risk mood softened.

Comments by ECB governing council member, Francois Villeroy de Galhau – Europe has made significant progress in its response to the virus crisis – Even talks in Brussels, there was progress The key story to start the European morning was that EU finance ministers had earlier failed to agree on a bailout plan to help […]

<p>Ifo economist Timo Wollmershaeuser said in the report that the Germany economy &#8220;slumped drastically as a result of the corona pandemic&#8221; and GDP could shrink -4.2% in 2020. Unemployment rate will &#8220;skyrocket to 5.9%&#8221;. Fiscal stabilization measures will lead to a record&#8221; deficit of EUR 159B. T

<p>EU Finance Ministers failed to agree on coordinated coronavirus economic rescue after marathon talks. “After 16 hours of discussions we came close to a deal but we are not there yet,” Eurogroup chairman Mario Centeno said. “I suspended the Eurogroup and continue tomorrow.” It’s reported that there was a major

<p>The Euro was down 0.5% in Wednesday’s Asian/early European trading weighed down by failure of EU financial ministers to agree the way of funding economy package. Fading risk mode on increased death toll on COVID 19 adds to negative near-term outlook and keeping the single currency in red. Fresh weakness erased approx. 50% of Tuesday&