The Euro is surrendering early in July. Overview for 01.07.2019

01.07.2019

The major currency pair is falling on Monday morning; the USD is recovering.

On Monday, EURUSD is trading downwards. The current quote for the instrument is 1.1333. 

The key trigger for the USD recovery was results of the G-20 Summit that took place in Osaka last week. The American and Chinese leaders agreed to resume negotiations after the White House made some concessions. It means that both parties finally have a real chance to achieve progress in negotiations, which have been in deadlock for a long time. 

In the afternoon, the Euro Area and its members, such as Spain, France, and Germany, will report on the Manufacturing PMI for June. However, these reports often have slight impact on currency pairs. 

Also, the Euro Area is scheduled to report on the Unemployment Rate for June, which is expected to remain unchanged at 7.6%. It’s a great number considering complications with migrants in some of the countries. 

In the evening, the USA will publish the Construction Spending report for May, which may add 0.1% m/m after remaining unchanged in April. Apart from this, the USA are going to report on the Final Manufacturing PMI for June from Markit, which is expected to remain the same as its preliminary estimate at 50.1 points. The ISM Manufacturing PMI for the same month may drop to 51.3 points after being 52.1 points in the previous month. However, as long as the indicator is above 50 points, there are no reasons to worry.

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.