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In Europe the main focus will be the IFO business survey in Germany

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Market movers today In Europe the main focus will be the IFO business survey in Germany. We expect IFO to have improved in September to around 105 and if we are right this would suggest annualised GDP growth above 3% in Germany. There will also be a flood of speeches from ECB board members with Nowotny, Constancio, Coeure, Liikanen and Mersch all scheduled to speak today. We might get some indications on a possible policy response from ECB to stem the increase in money market rates, including Reported by FXstreet.com 4 hours ago.

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