MARKET WRAPS Watch For: ECB Consumer Expectations Survey results, Eurogroup meeting of eurozone finance ministers, EU retail trade, IMF Outlook Report for Europe launch with National Bank.
EMEA Morning Briefing: Stocks Track Lower as Investors Parse Fed Officials Comments morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
MARKET WRAPS Watch For: GDP and CPI data for EU, France, Italy; ECB Vice-President Luis de Guindos participates in a colloquium with students organized by ICADE University; France consumer.
EMEA Morning Briefing: Sentiment Weighed by Weak China PMI Data morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
Last week's business activity data from both sides of the Atlantic proved to be exceptionally weak. The euro came under selling pressure due to a decline in Germany's Services PMI from 52.3 to 47.3, which in turn pulled down the Composite Business Activity Indexes not only for Germany but for the entire Eurozone. The former dropped from 48.5 to 44.7, while the latter declined from 48.6 to 47.0. The GDP data for Germany for Q2, released on Friday, August 25, further confirmed that the economy of the united Europe is stagnating. On a quarterly basis, this metric stood at 0%, and on an annual basis, it showed a decline of -0.6%.