German consumer confidence has
already deteriorated for the month of September. However these economic releases
will most likely be only secondary triggers for moves in the Euro. Instead, all eyes will be on US data,
the credit markets and any comments from ECB officials. So far, the central bank
has kept us guessing on what to expect in September. Meanwhile the Swiss KoF leading
indicators report deteriorated from 2.09 down to 2.06 in the month of
August. Swiss economic data has
been on a downtrend, which suggests that the central bank will leave interest
rates unchanged next month.