Germany's Scholz: Slower growth due to trade tensions

In an interview with Euronews on Friday, German Finance Minister Olaf Scholz noted that the economy is not close to a real recession and argued that the slower growth is caused by to trade tensions.

"Slowdown is manmade, if trade tensions cease this will have a good impact on the global economy." Scholz added and said "We have a very expansionary financial policy, an all-time high in public investment," regarding the possibility of Germany introducing fiscal stimulus.

The EUR/USD paid no mind to these comments and was last down 0.15% on the day at 1.1030.