- German Economy Ministry: Impact of Russia-Ukraine war on the economy hard to quantify
Market news
16 March 2022
German Economy Ministry: Impact of Russia-Ukraine war on the economy hard to quantify
The German Economy Ministry said on Wednesday, the “impact of Russia’s invasion of Ukraine on the economy is hard to quantify at moment.”
Additional quotes
Rising energy prices linked to invasion are affecting trade and supply chains.
Impact of conflict on the German economy depends on longevity and intensity of war.
Accelerating inflation will subdue private consumption this year.
EUR/USD reaction
The shared currency failed to find any impetus from these statements, as EUR/USD keeps its range below 1.1000, with eyes on the Fed outcome.
The main currency pair is trading at 1.0990, up 0.35% on a daily basis, as of writing.
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