The euro has been rising very sharply in recent weeks with the dollar moving lower. Our panel looks at reasons why including divergence in economic strength.

GDP data are slated for the US and the UK in what will be key updates on the state of global momentum. And in the US, Wednesday's FOMC statement is also in focus.

Hints of unwinding from the European Central Bank may in store while ETF purchases are a question for the Bank of Japan. In the U.S., a moderately strong housing sector is the focus.

Would fixed policy tools improve monetary policy or are they too restrictive and already obsolete?

Lack of inflation and specifically lack of wage power appears to be persistent and global. The panel discusses possible reasons including worker defensiveness following the Great Recession.

Econoday's Jeremy Hawkins updates developments underway in Europe including the new government in the UK, the economic ties between France and Germany, and the latest status of Greece.

A weak consumer and flat inflation won't be boosting the justification for a Fed rate hike while in Europe, a hung parliament won't be helping the UK's Brexit position.

The UK election on Thursday may or may not keep the status quo in place while Thursday's ECB meeting may or may not offer hints on QE cutbacks. In the U.S., growth has yet to pick up yet a rate hike is the call for next week's FOMC.

Slowing inflation in Europe and the U.S. are not supporting the outlook for less central bank accommodation.

Economic data from Canada to Germany are on the upswing, in contrast to the U.S. where early second-quarter numbers are no better than mixed.