Strong German economy lifts Euro
All sectors of the German economy grew in the second quarter, data showed, with robust domestic activity helping to cushion against risks to exports from an uncertain global trade outlook. Construction and state spending expanded the most, both up 0.6 per cent quarter on quarter. Private consumption extended its growth run to six straight quarters, reflecting steady falls in unemployment during what has been a long phase of economic recovery. Turkish crisis seems to be calming down a bit, attention is starting to focus on other things, such as the risk appetite. That should lift the Euro overall.