EUR: a successful growth. Overview for 28.06.2022

EURUSD is keeping its positive momentum and getting ready to attack.

The major currency pair got another chance to continue rising. The current quote for the instrument is 1.0589.

Market sentiment reached stability, demand for the “safe” USD reduced, and other traded currencies got a chance to rebound – the EUR is in pretty strong demand. The statistics from Germany published this morning “poured some cold water on” bulls but not for long – the market is back to buying.

The German GfK Consumer Climate dropped to -27.4 points in July after being -26.2 points the month before. The indicator has been negative for a long time and investors got used to it. This local decline can be easily explained by high inflation and a significant migrant influx, which remains a huge problem for Germany.

Later today, market players’ attention will be focused on another speech to be delivered by the European Central Bank Governor Christine Lagarde. The ECB policymakers will discuss the regulator’s monetary approach, as well as mid/long-term goals, as far as it is possible.  

In the evening, the US is scheduled to report on the Conference Board Consumer Confidence for June, which might drop to 100.0 points after being 106.4 points in May.

Source: Roboforex

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