German IFO’s Economist: There is slight easing of supply shortages in industry

Following the release of the German IFO Business Survey, the institute’s Economist Klaus Wohlrabe said that “there is a slight easing of supply shortages in the industry.”

Additional quotes

German economy starts new year with glimmer of hope.

It is too early to talk about a turnaround of economic situation.

Raw materials and preliminary products supply issues have eased.

EUR/USD reaction

EUR/USD remains pressured near 1.1300, shedding 0.22% so far. The focus remains on Wednesday’s Fed decision and the Russia-Ukraine crisis.