German economy ministry: Growth remains weak in Q3 and indicators do not signal a recovery

Following the release of the Q3 GDP report, the German economy ministry was out with some comments in the last hour and said that business climate indicators in the third quarter send the first ray of hope.

Additional quotes:

Economic growth remains weak in Q3 and indicators do not signal a recovery yet.

German exports were up 1.1% in Q3 but companies do not expect a noticeable recovery in the coming months. 

Meanwhile, the EUR/USD pair extended its sideways price action and remained confined in a narrow trading band near the key 1.10 psychological mark or one-month lows.