The Gfk consumer climate report from Germany showed that the consumer sector pointed to a slowdown. The data comes amid a stretch of weak economic reports from Germany. Earlier this week, reports showed that German GDP contracted 0.1% in the second quarter of the year. European indices were trading weaker on the data.
EUR/USD Continues to Extend Declines
The currency pair has been seen extending declines. This confirms the downside bias after the EURUSD failed to clear the resistance area at 1.1140. The downside is likely to stall near the previously formed lows of 1.1065. A breakout below this level will probably see further declines lower.
