The Euro falls after rising slightly in the European session

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During the European trading session the Euro recovered to $1,1724, where the market buyers met with ofer (limit sell orders). Growth of quotations was promoted renewed optimism about the political situation in Italy, as well as a decrease in the yield of Italian government bonds. In addition, support for the Euro has provided data on Eurozone inflation.
The price touched $1,1724 and immediately left him in the neighborhood of $1,1708. Later, on the background of reducing the cross-pair EUR/GBP followed the fall of the Euro/dollar to $1,1673 (-51 points). It should be noted that during the weakening of the single currency against the dollar the major currency pairs is increased, so the $1,1673 price recovered to $1,1709.
The data released by the price index of personal consumption expenditures, personal income and spending, as well as applications for unemployment benefits. Statistics came out quite good. Dollar it played a part losses at majors and, most likely, will continue to strengthen its position further.
At the time of writing the Euro is worth $1,1690. Buyers keep the area around $1,1670. To sellers to seize the initiative with the trend, you will undergo a $1,1650. Interference create crosses with the Euro. The Euro/yen, Euro/canadian dollar, Euro/Australian dollar are in League with the buyers, and the Euro/pound and Euro/franc in the Union with the sellers. Here you need to watch where the cross EUR/GBP.
I’m set for further depreciation of the Euro to $1,1620. Think ahead of Friday’s vote in the Spanish Parliament for a vote of confidence to President Rajoy, the Euro should be worth about $1,1600.
Published by the European statistics:
The consumer price index in the Euro area in may amounted to 1.9% y/y (forecast was 1.6%, the previous value of 1.2%).
The consumer price index in Italy in may at 0.4% m/m, 1.1% y/y (consensus: 0.2% m/m, 0.8% y/y, previous reading of 0.1% and 1.2%).
Consumer prices in France in may at 0.4% m/m, 2.0% y/y (forecast was 0.3% m/m, 1.9% y/y, previous reading of 0.2% and 1.6%).
Vladislav Antonov,