German sentiment down sharply
Head of Macro Analysis
Summary: The latest ZEW survey of economic sentiment in Germany gave EU investors another reason to worry.
As mentioned in a previous analysis, vehicle sales of leading European car brands in the US in May 2018 came in large part down to German carmakers. In the case of auto import tariffs, they will be the first ones to suffer. Though the Trump administration has been recently targeting China, it cannot be ruled out that it will turn to Europe and Germany next.
This survey confirms that the growth outlook is clouded and that lower growth is coming to Germany at the worst possible time, and in a context of lower liquidity and rising political risk. It is yet another macro data point suggesting that investors need be careful.
Quarterly Outlook Q2 2022
Quarterly Outlook Q2 2022: The End Game has arrived
- Shocks from covid and the war in Ukraine have forced the global financial and political world to change, but what will the end game be?
Productivity and innovation have never been more importantAs the world economy hits physical limits and central banks tighten their belts, could equities be facing a 10-15% downside?
The great EUR recovery and the difficulty of trading itIf the terrible fog of war hopefully lifts soon, the conditions are promising for the euro to reprice significantly higher.
Tight commodity markets – turbocharged by war and sanctionsWith supply already tight, commodities keep powering on. But will it last for yet another quarter?
Between a rock and a hard placeGeopolitical concerns will add upward price pressures and fears of slower growth, while volatility will remain elevated.
The Great ErosionInflation is everywhere and central banks try to combat it. But will they get it under control in time?
Australian investing: Six considerations amid triple Rs: rising rates, record inflation and likely recessionWhile global financial markets are struggling in an uncertain world, the commodity-heavy Australian ASX index is poised to keep a positive momentum.
Cybersecurity – the rush to catch up with realityWith the invasion of Ukraine, governments and private companies are rushing to reinforce their cyber defenses.
Please read our disclaimers:
- Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)
- Full disclaimer (https://www.home.saxo/en-gb/legal/disclaimer/saxo-disclaimer)