Germany's Habeck: We face threat of recession next year

German Economy Minister Robert Habeck said on Tuesday that their goal is to introduce a new energy market design and price reduction measures for 2022 retroactively, as reported by Reuters.

"We face a threat of recession next year," Habeck added.

Market reaction

These comments don't seem to be having a significant impact on risk mood. As of writing, Germany's DAX 30 Index was up 0.75% on the day at 13,502. Meanwhile, EUR/USD preserves its bullish momentum and continues to push higher toward 1.0200.