Business Confidence Improves

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The IFO index of German business confidence released this morning showed a higher measure of sentiment across all sectors. This has been tempered by downbeat comments by the Italian Prime Minister on Spain’s finances have reignited contagion fears in the region. Against this backdrop, the outcome of the EU finance ministers meeting due later this week will be keenly awaited. In today’s session, traders are eyeing US pending home sales and regional manufacturing data for further cues on the health of the US economy. At home, in the absence of major economic releases today, Sterling is expected to track wider market movements

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Business Confidence Improves

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