The EUR/USD pair loses ground to around 1.1730 during the early European session on Monday. The Euro (EUR) weakens against the US Dollar (USD) as ratings agency Fitch downgraded France's credit rating amid political turmoil.
The National Bureau of Statistics of China (NBS) will publish its data for August at 02.00 GMT. Retail Sales is expected to show an increase of 3.8% year-over-year (YoY) in August, compared to 3.7% in the previous reading.
This song came to mind yesterday as I listened to ECB President Christine Lagarde during her press conference. The general impression was that the president and her colleagues on the ECB Governing Council are currently very comfortable with the current key interest rate level.