EUR/USD today: the euro is under the pressure of correction

After a decline in the second half of Monday, the EUR/USD pair remains in the correction phase after growth. Significant support shifted to levels 1.1250 and 1.1240. The pressure on the euro is largely due to the exacerbation of risks in Europe.

Events for today:

• 11:30 – Employment report in the UK will be released: average earnings with bonuses (May), claimant count changes  (June),  employment change, 3m/3m (m/m) and unemployment (May) .
• 12:00 – data on the EU will be published: ZEW index of current economic conditions in Germany (July), ZEW index of economic sentiment in Germany (July),  trade balance in the eurozone (May) and ZEW index of economic sentiment.
• 15:00 – will be the speech of the Bank of England Governor Carney.
• 15:30 – data for the United States will be published : core retail sales index (m/m) (June), the export price index (m/m) June), the import price index (m / m) (June) and the volume of retail sales (m/m) (June).
• 20:00 – the speech of the Fed Chairman Mr. Powell.

The day today is full of meaningful data and speeches. Therefore, market dynamics will largely depend on the published data.

EUR/USD pair remains under the pressure of a downward correction, but the potential for growth remains. A significant level of support is the 1.1240 mark, a rebound from which will keep expectations of growth. Otherwise, we can expect a moderate decline.

Read also: “The Eurozone and the state of its economy
based on key economic indicators”

Hanzenko Anton

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