EURUSD is saving strengths in anticipation of a very active week; investors are in no hurry to risk.
The major currency pair continues consolidating at the beginning of the last week of June. The current quote for the instrument is 1.1940.
On one hand, the US 10-year bond yield remains high and helps the “greenback” to avoid retreating. On the other hand, the US statistics turned out to be rather mixed and provided no significant support to the American currency.
The Personal Income in the USA was -2.0% m/m in May after being -13.1% m/m in the previous month, which means that the indicator is still reaching stability after the population received additional checks earlier this spring. The Personal Spending didn’t change after adding 0.9% m/m in April.
The Core PCE Price Index in the USA expanded by 0.5% m/m in May, which is better than expected.
The final June report on the Consumer Sentiment from the University of Michigan dropped to 85.5 points after the previous estimate of 86.4 points. The indicator was expected to improve, that’s why the current decline was an unpleasant surprise.
This week, there will be a lot of numbers from the USA, mostly on the labor market. They may force EURUSD to fluctuate more than usual.
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.