EUR: German economic fears drag on euro

The euro traded sideways with the US dollar yesterday while losing ground to sterling.

In the eurozone yesterday the talk was all of a potential recession in Germany, with yesterday’s disappointing result for German Ifo Business Optimism, which slipped from 18 last month to 8, this month, against an expectation of 15.

All eyes will be on Gfk Consumer Confidence tomorrow to see if that is repeated for Germany, along with France and Italy.

The week will finish with a bang for the eurozone, with quarterly GDP figures from across the main economies of the region.

EUR/GBP past year

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