Quarterly GDP data from Germany, Europe's largest economy, showed expansion at a pace of 0.30% in the third quarter, while staying unchanged at 1.80% on an annualized basis. In comparison to the previous quarter, where the German economy expanded at a pace of 0.40%, the third quarter economic performance weakened from numerous angles, including the hit by the VW emission scandals and continued global trade shrinkage. Besides the GDP release, German Ifo Business Sentiment data showed a modest improvement in the month of November. The headline Ifo Business Climate Index increased to 109.0 from 108.2 in October, indicating that the economy was slowly overcoming the VW scandal which has weighed on sentiment. The Euro managed to close on a modestly bullish note yesterday, printing a higher low at 1.0619, indicating a potential correction to the upside over the near-term.