The main currency pair is getting more expensive for the fourth consecutive day, maintaining the correctional impulse.
Investors’ interest in “safe haven” assets is getting less prominent. The Eurodollar has been growing for four trading sessions in a row, although one can’t call purchases to active. The current quote for the instrument is 1.1143.
The statistics published today indicates that the CPI in the Eurozone in June was 0.9% y/y, which is a bit higher than the predicted number of 0.8% y/y. A little bit later, they will publish a detailed report on the inflation – the core inflation is not too informative. However, even here one can find a positive moment: some expansion of the inflationary pressure might show how productive the policy, which is carried on by the ECB, is.
In addition to that, at the moment Europe is in the middle of the tourist season, and this factor may make a contribution into formation of better inflationary numbers.
Until the end of today, one should pay attention to a weekly report on jobless claims from the USA. The next week, they will publish statistics on the employment market in June, which is sure to contain the correction towards disastrous reports published in May. However, we’ll be able to follow the tendency: May’s decline was an isolated case due to set of circumstances or there will be a new trend ahead.
The EUR/USD pair may trade in the range between 1.1100 and 1.1185 until the end of the week, but hardly any higher. Next Monday, on July the 4th
, American markets will be closed due to the Independence Day.
RoboForex Analytical Department
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