Europe Roundup: Euro gains on German IFO optimistic, European stocks gain, gold slips, oil prices higher following storm-induced production cuts, COVID-19 weighs in August 25, 2020

Europe Roundup: Euro gains on German IFO optimistic, European stocks gain, gold slips, oil prices higher following storm-induced production cuts, COVID-19 weighs in August 25, 2020

Market overview

• US and China see progress in trade negotiations

• German GDP (QoQ) (T2) -9.7%, -10.1% forecast, -2.2% previous

• German GDP (year-on-year) (Q2) -11.3%, – 11.7% forecast, -1.9% previous

• German August current rating 87.9, 87.0 predictions, 84.5 previous

• Ifo German business climate index August 92.6, 92.2 forecast, 90.5 previous

• German trade expectations in August 97.5,…

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