Germany's Bundesbank: Economic growth to remain weak in first quarter of 2020

The economic growth in Germany is expected to remain weak in the first quarter of 2020 amid the coronavirus outbreak and sluggish exports, Germany's Bundesbank said in its monthly report on Monday, as reported by Reuters.

"For the first quarter of 2020, there are no signs of a fundamental change in Germany's economy," the publication read. "With the appearance of the coronavirus in China at the beginning of 2020, a new layer of risk was added."

EUR/USD stays in daily range

The EUR/USD pair largely ignored these remarks and continues to trade in a very tight range below the 1.0850 mark on Monday.