The euro had another strong day on Monday, as it reached over six month highs against the US dollar and a four month high against sterling. The single currency benefited as events came to a head over the fears of a China-led slowdown in the global economy. This slow-down pushed back expectations as to when interest rates will be hiked in the UK and the US, and the euro was the main benefactor.
Very early this morning we had Gross Domestic Product (GDP) figures from Germany; which showed a slight increase to 0.4% from last quarter’s 0.3%. At 9am IFO German business sentiment is likely to fall slightly from 102 from 102.4.