Asian shares braced for an action-packed week of earnings and central bank meetings.
Markets priced for 25bp hikes by Fed and ECB
German business activity contracted in July, increasing the likelihood of a recession in the second half of the year, the German Flash Composite Purchasing Managers' Index showed. The euro slipped 0.4% against the dollar, government bond yields across the bloc edged lower while European stock markets dipped, with Spain's benchmark index down over 1% in a clear underpeformance.
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