The Euro rose in European trading
In the European trading, the Euro/dollar rose up to 1,1692. Growth of quotations contributed to a General weakening of the us dollar and the increased demand for euros in the cross-pairs. “Eurobulls” played more than 50% of the losses they suffered on Thursday (July 26) after a meeting of the ECB during a speech of the head of the European regulator Mario Draghi.
The demand for euros could be saved in anticipation of the release of inflation data in Germany. In July inflation came in below expectations, but she was unable to change today’s “bullish” sentiment. Preliminary consumer price index in Germany in July was 0.3% m/m (consensus: 0.4% m/m, previous reading was equal to 0.1 m/m).
Against the U.S. dollar traded in the red the Australian dollar and Japanese yen. Interestingly, the upward movement in the Euro crosses have broadly supported the main couple, despite the rise in yields on 10-year us bonds. On the American session, the Euro moved high on 1,1699. Shoppers are set to return to the Euro zone 1,1730-1,1735. If deep kickbacks from mark 1,1700 is not followed, then in the designated corridor of the Euro will trade at 5:00 (GMT+3) on July 31.
Previously we predicted that the Euro will strengthen and he was right.