The Macro Brief - EM FX gets a dose of reality, Germany enters recession, Europe's data surprises

Paul Mackel examines the prospects for emerging market currencies, Stefan Schilbe looks at what’s behind Germany’s underperformance and Liz Martins explains why the latest European economic data are providing some welcome relief. Disclaimer: https://www.research.hsbc.com/R/51/9ZqtgD7 Stay connected and access free to view reports and videos from HSBC Global Research follow us on LinkedIn https://www.linkedin.com/feed/hashtag/hsbcresearch/ or click here: https://www.gbm.hsbc.com/insights/global-research.

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