SaxoTV

Wunderbar! Germany is back in business

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Consumer confidence at a thirteen year high, unemployment down. As the economic data out of Germany this Thursday is positive, Saxo's Mads Koefoed says it's clear the German economy is bouncing back as he predicts growth of between 1.5% and 2%.

Koefoed says the DAX is trading at an all time high and he expects to see more gains. He also says there are 'positive tail wind's coming from not only cheaper oil but also a weaker EUR. 

Koefoed says although Russian sanctions did adversely impact German exports, he believes there were other reasons for the economic slowdown. Even if more sanctions are put in place, he says Germany will survive and continue to grow.