# ECB's Nagel: German growth likely to accelerate in Q4

> Bundesbank President Joachim Nagel said German growth is likely to accelerate in the fourth quarter, with a recovery stronger than the ECB expected in summer. He warned the recovery is not yet broad-based, with subdued private consumption and declining machinery investment. EUR/USD fell about 0.15% to near 1.1140 as the dollar strengthened.

- Date: 2026-11-11 · published 2026-11-12T00:12:27.594Z
- Category: macro · region EU · magnitude low
- Page: https://feedsoft.ai/events/94403-ecb-s-nagel-german-growth-likely-to-accelerate-in-q4
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Stronger German growth supports EU feed demand modestly, but the move in the euro is driven mainly by dollar strength, so the effect on feed commodity prices is small.

## Read by commodity

- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2025-02-27 | [ECB to cut rates again on March 6 as focus turns to growth](https://feedsoft.ai/events/26270-ecb-to-cut-rates-again-on-march-6-as-focus-turns-to-growth.md) | +2.4% | +2.5% |
| EURUSD | 2019-03-07 | [Euro Dips on Fresh ECB TLTRO Announcement, says no Interest Rate Rise Likely in 2019](https://feedsoft.ai/events/60312-euro-dips-on-fresh-ecb-tltro-announcement-says-no-interest-rate-rise-likely-in.md) | -0.1% | -0.7% |
| EURUSD | 2023-05-31 | [German inflation drops to lowest level in more than a year](https://feedsoft.ai/events/36151-german-inflation-drops-to-lowest-level-in-more-than-a-year.md) | -0.3% | +1.7% |
| EURUSD | 2021-07-21 | [ECB pledges low rates for longer as virus casts shadow over growth](https://feedsoft.ai/events/46291-ecb-pledges-low-rates-for-longer-as-virus-casts-shadow-over-growth.md) | +0.5% | -0.5% |
| EURUSD | 2022-12-16 | [FX Daily: ECB slams brakes on growth and the euro \| articles \| ING THINK](https://feedsoft.ai/events/38436-fx-daily-ecb-slams-brakes-on-growth-and-the-euro-articles-ing-think.md) | -0.5% | +1.5% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/ecbs-nagel-german-growth-likely-to-accelerate-in-q4-202611110826

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.