MARKET OUTLOOK - Markets are waiting for the Ifo data to be released in Germany.

The euro is testing its lowest level since March 6 against a strengthening dollar, maintaining a sideways trend. Traders are exercising caution ahead of the Ifo German business confidence survey at 12:00 GMT.

ING analyst Francesco Pesole noted that markets may not expect "anything too significant" from the Ifo survey. However, if sentiment remains optimistic due to Germany's fiscal spending plans, it leaves room for a "positive surprise" that could boost the euro. The euro has dropped to 1.07769 dollars, marking its lowest point since March 6.