It was a relatively quiet start to the European session. After dismal private sector PMI numbers for July, the German economy was in the spotlight again. The German Ifo Business Climate Index and sub-components drew interest this morning. The German Ifo Business Climate Index fell from 88.6 to 87.3 in July. Economists forecast a decline to 88.0. In July, the business expectations sub-Index fell from 83.8 to 83.5, with the current assessment sub-Index falling from 93.7 to 91.3.The Ifo survey aligned with the German private sector PMI survey, which revealed a negative outlook on activity for the first time since ... (full story)