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Daily Briefing

Euro reactes at Ger,am’s low business climate. Euro dropped 25 points against the US Dollar following the release. EURUSD has been declining since setting a new 4-month high a week ago, and support could be found at 1.2905. The survey shows customer;s confident decrease from 110.3 to  93.2. this data mainly reason is becasuse of ECB’s recent bond purchase plan and German;s 2nd quarter slow growing GDP.

The US Dollar and the Japanese Yen pushed broadly higher overnight as Asian stocks declined, Amid Fears of Franco-German Rift on Banking Union.

 

Later in the session, US FOMC will have speech.  First in a series of regional factory-sector surveys on tap this week and will help shape a timely outlook on where growth trends in the world’s top economy are pointing in the third quarter. Establishing the extent to which US recovery can offset recession in Europe and a slowdown in Asia is formative for risk appetite.