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06:00 United Kingdom Bank holiday -
06:00 Germany Import prices July -1.5% +0.8% +0.7%
06:00 Germany Import prices Y/Y July +1.3% +1.4% +1.2%
08:00 Germany IFO - Business Climate August 103.3 102.8 102.3
08:00 Germany IFO - Current Assessment August 111.6 110.8 111.2
08:00 Germany IFO - Expectations August 95.6 95.0 94.2
The euro rose slightly against the dollar after the published data showed that the index of current conditions IFO fell less than some economists predicted, suggesting that the region's largest economy can withstand the sovereign debt crisis. Other submitted data for Germany were slightly below expectations, but in spite of this, the euro rose.
The single currency strengthened against the yen as German Finance Minister Wolfgang Schaeuble said that Germany and France will create a working group to improve the financial and monetary union in the region. He also said that the working group will prepare solutions in banking alliance and strengthen fiscal union and monetary union.
Note that the most important event of the week will be a symposium in Jackson Hole, where the President of the ECB and the Fed chairman gave a speech on the future policy.
We remind that the UK financial markets closed on Letnik holidays. Against this background, pound traded in a narrow range.
EUR/USD: during the European session, the pair has grown, reaching $ 1.2535.
GBP/USD: the pair shown peak at $ 1.5830, after rate slightly receded.
USD/JPY: steam updated Friday's high, then fell to the opening level
16:15 GMT In an address by a member of the FOMC Sandra Pyanalto.
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