Germany’s services sector could see a slowdown in the coming months, alongside sluggish growth in the industrial sector. Germany’s economic minister cautioned that the services sector was what was driving Germany’s growth so far. Officials are expecting to see growth in Europe’s largest economy slowing. This potentially drags the eurozone’s growth lower as well.
EURUSD Steady Above 1.1250
The common currency held on to the support at 1.1250 level on Monday. Price action was subdued due to lack of any clear fundamentals. However, investors are expecting the ECB to act, either by cutting rates even lower or restarting the QE program. As long as the 1.1250 level holds, the currency pair could be aiming for 1.1400.