Asian Currencies Slip as Stronger US Dollar, Iran Tensions Pressure Regional FX 
Iran Targets U.S. Bases in Bahrain, Kuwait as Hormuz Conflict Escalates and Oil Prices Jump 
Germany Seen Gaining as U.S. China-Built Ship Fees Reshape Trade 
China 618 Smartphone Sales Drop 13% as Higher Prices Hurt Demand, Huawei Gains Market Share 
Oil Prices Rise as Strait of Hormuz Risks Offset OPEC+ Supply Increase 
Asian Stocks Slip as AI Chip Valuation Fears, Rising Oil Prices Weigh on Markets 
European Stocks Hold Steady as Consumer Shares Rise, AI Tech Selloff Weighs on Markets 
US Launches New Iran Strikes as Strait of Hormuz Conflict Escalates, Oil Prices Rise 
Oil Prices Rise as U.S.-Iran Conflict Fuels Strait of Hormuz Supply Fears 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
In a statement released on Monday, Dec 8th, German Economic Ministry said that Britain's decision to leave the European Union, unpredictable U.S. policy under president-elect Donald Trump, and political uncertainty in Italy are key risks facing the German economy.
However, it added that despite the risks, it expects gowth in Europe's largest economy to pick up in the fourth quarter after a slowdown in the previous quarter. It noted that a robust labor market is continuing to sustain private consumption, which has been propping up the economy as exports wane.
"Uncertainties remain high, however, not least because of Brexit, the unpredictability of future U.S. policy, and the political situation in Italy," the ministry said in its monthly report.
The Economy Ministry added that despite those risks, the global economic environment seems to be gradually brightening up, especially as emerging markets like Brazil and Russia are expected to exit recessions, which will benefit German exports.
FxWirePro's Hourly Currency Strength Index at 1200 GMT showed EUR strength was at -96.4879 (Slightly bullish). For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
