EUR/USD:Stays below 1.0900 after German IFO data

EUR/USD trades marginally lower on the day below 1.0900 as the cautious market mood helps the US Dollar holds its ground against its rivals. The IFO data from Germany showed that business sentiment improved modestly in January but failed to help the Euro.

German Economy Minister: No signs of marked recession

In the annual government economic report published on Wednesday, the German economy minister said that they do not see signs of a market recession as feared by many observers, as reported by Reuters.
The publication revealed that the Gross Domestic Product is forecast to expand by 0.2% in 2023 and inflation is expected to be 6% in 2023, compared to 7% in the autumn forecast

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