Eurozone GDP grew 0.7% in the second quarter of the year. That beat expectations, and follows a disappointing report out of the US overnight. The world's largest economy shrank by 0.9% in the three months to June. That follows a first quarter contraction of 1.6%, meeting the textbook definition of a recession.

For more on that, we spoke to Craig Erlam, who is a senior market analyst at OANDA in London.

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