German Economy Struggles, Seen Contracting Again With Rate Cuts Looming
- German economy struggling, expected to grow just 0.1% in 2024 according to research institutes
- German GDP contracted in Q3 and Q4 2023
- ECB expected to cut rates in June and possibly again in July
- EUR/USD trading around 1.0815, could test recent double bottom at 1.0800
- Majority of retail traders are net-long on EUR/USD suggesting prices may continue falling
