(09 April 2020)DAILY MARKET BRIEF 2:All eyes on OPEC+ decision

<p>According to a top German research institute, the German economy may slow by a record 9.8% in the second quarter and Europe’s growth engine could print a 4.2% contraction this year. The sputtering German economy will certainly weigh on the entire European sentiment, but there is not much governments can do other than loosening their purses’ strings. The European Central Bank (ECB) will continue giving its full support to the market by massive government debt purchases. So, in the short run, all seems settled from a market point of view, but higher government spending will end up being a serious headache among the EU nations in the medium to long run. For now, the euro remains a touch below the 1.09 mark. Due today, the Italian industrial production data could confirm a 1.7% m-o-m contraction in February and cap the single currency’s upside potential sub-1.10.</p>