At the beginning of the week, the main currency pair makes no headway; American investors are off the market due to the holiday.
The Eurodollar is not active on Monday. The current quote for the pair is 1.1131; it hasn’t changed significantly over today’s trading session. Investors are bored a bit and the currency pairs are moving in narrow trading ranges because there are no overseas market participants: the USA celebrates the Independence Day.
At the beginning of the week, the Eurozone published the statistics on the PPI in May. The indicator increased by 0.6% against the predicted number of 0.3%. The same indicator in the European Union added the same 0.6%. On a year-on-year basis, the indicator for the Eurozone reduced by 3.9% and in the European Union by 3.7%.
In the components of the report, one can see how different price policies are. Everything relating to the energy production increased in the price significantly. Intermediate goods and convenience goods increased a bit less. At the same time, prices for consumer goods almost hasn’t changed.
According to Sentix observations, in July investors’ sentiments in the Eurozone declined as they were worried about the Brexit and the United Kingdom’s future. The indicator fell up to the 18 months low and was 1,7 points against 9.9 points in June. If it has been a usual trading day, such statistics would have weakened the Euro, but today the day is empty.
RoboForex Analytical Department
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