Germany's IFO: 52.7% of companies could survive for six months if lockdown remains longer

According to a survey of German companies conducted by the influential IFO institute, a majority of them said they could survive for six months if the coronavirus lockdown restrictions remain for a longer period.

Key findings

52.7% of companies say they could survive for six months.

29.2% of surveyed companies say they can survive for three months or less if the coronavirus restrictions remain for a longer period.

This comes after Der Spiegel reported, citing a Foreign Ministry document, The German cabinet will on Wednesday extend a travel warning for all tourism trips abroad until at least June 14.

Market reaction

Nothing seems to affect the upbeat momentum seen around the EUR/USD pair, as it continues to remain at the mercy of the US dollar price-action heading into the critical US data and FOMC decision.

At the time of writing, EUR/USD trades at 1.0849, up 0.32% so far.