EURUSD is waiting for the European statistics and rising based on the improved risk attitude.
The major currency pair continues growing on Tuesday morning. The current quote for the instrument is 1.1847.
This afternoon, the Euro Area is scheduled to report on the Retail Sales, which is expected to be pretty positive and show 4.3% m/m in May after being -3.1% m/m in April. The key reason for the expected improvement is the fact that many European countries started removing quarantine restrictions imposed due to the coronavirus pandemic. As a result, the report may have a positive influence on other indicators as well.
In addition to that, there will be a report on the ZEW Economic Sentiment for both Germany and the alliance but these expectations aren’t so positive. The indicator may show 75.0 and 79.0 points after being 79.8 and 81.3 points for Germany and the Euro Area respectively.
In the evening, the USA will publish final reports on the ISM and Markit Services PMIs.
Strategically, the USD is fighting the mixed statistics on the American labor market published last Friday. Investors really expected some strong numbers, which could make the US Federal Reserve revise and tighten its monetary policy. However, it didn’t happen, the Fed remained neutral and the “greenback” lost quite significant support.
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.