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Image: Crystal Kwok on Unsplash
Industrial nations cannot rely on only consumer spending. They have to make parts and equipment for companies so they can make parts and equipment for consumers. Germany's factory demand returned in June to 90% of pre-plague levels. Industrial production was up 8.9% for that month as well.
With 5.6 million on unemployment benefits, that's nearly the entire population of Colorado who can't or won't find work. But, being at the center of Eurozone banking as we mentioned last week and having some of the coolest castles anywhere will hopefully help Germany lead the way to recovery on the continent.
EUR/USD will open at 1.178 today.