The euro is sinking following a horrible German investor confidence report.
It's currently at $1.3343, down 0.3% for the day.
Germany's ZEW investor confidence survey index plunged to 44.3 in August from 61.8 a month ago. This was much worse than the 54.0 expected by economists.
To make things worse, the expectations index crashed to 8.6 from 27.1. This was the lowest reading since December 2012. Economists were expecting 17.0.
"In one line: Grim, as slump in investor sentiment deepens," said Pantheon Economics' Claus Vistesen.
On Thursday, we'll get our first estimate of Germany's Q2 GDP. Economists estimate it contracted by 0.1% quarter-over-quarter.
