After ending yesterday at 1.0223, Euro-Dollar drifts up to 1.0223 (down 10,223 pips) .
Trading week at a glance - EUR/USD is up to 1.0223, after closing yesterday at zero. Overall, a 0% move or 10,223 pips this week. (Trade the Euro with FXTM now).
Euro-Dollar upside coincides with further encouraging market factors as Euro Zone CPI (YoY) (Jun) comes out at 8.6, better than analyst estimates of 8.4 and improving upon the previous reading of 8.1. Germany Unemployment Change (Jun) beats expectations of -6,000 with new data release of 133,000. This is also a step forward from the previous data of -4,000.
At the same time, Euro Zone Retail Sales (MoM) (May) released earlier shows an improvement to 0.2 from the preceding data of -1.4, but falls short of the projected 0.4. Beating their previous number of 45.4, Germany IHS S&P Global Construction PMI (Jun) released 45.9 today at 7:30 AM. Euro Zone S&P Global Composite PMI (Jun) released yesterday at 8:00 AM is better than expected at 52 but down from preceding data of 54.8 according to new data.
Outlook for rest of the week: Euro Zone ECB President Lagarde speech will be released Friday. Euro Zone ECB Publishes Account of Monetary Policy Meeting is expected tomorrow at 11:30 AM.
The market is looking forward to the release of new data: Germany Industrial Production (MoM) (May) is expected to come out at 0.4 when it's released tomorrow at 6:00 AM, this is a decline from the preceding data which was 0.7.