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Flash: EUR/USD focused on German Ifo – BTMU

FXstreet.com (Barcelona) – Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the main focus in the European trading session will be the release of the latest German IFO survey for August.

Key Quotes

“German business confidence is expected to have increased more markedly in August than in July moving even further above its long-term average (moving closer to one standard deviation above) driven mainly by improving current conditions.”

“The German economy expanded robustly by 0.7% in Q2 as pent up demand was released, with growth expected to ease only modestly back towards 0.5% in Q3.” …read more