In Europe the focus is on German politics and economics. Purchasing data should show a small increase. While Chancellor Angela Merkel managed to float a refugee resettlement deal, partner-party CSU Chairman and interior Minister Horst Seehofer vetoed. We have a slight USD bias, given political uncertainty in the Eurozone and higher interest rates in the US. With low liquidly and summer conditions, volatility and wide price swings should dominate this week.
By Peter Rosenstreich