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The Euro continues growing. Overview for 21.06.2019

21 june 2019 - Fx4News

The major currency pair is keeping its positive momentum on Friday morning and slowly rising. 

At the end of the week, EURUSD feels fine and continues rising. The current quote for the instrument is 1.1300.

The American currency is still suffering from the Fed’s too soft stance on its monetary policy. In addition to that, last night the USA reported on the Philly Fed Manufacturing Index, which turned out to be very weak. The indicator added only 0.3 points in June after expanding by 16.6 points the month before and against the expected reading of +10.6 points. The index is calculated by the Fed itself and it represents attitude of the largest manufacturing companies to the current economic situation. The smaller the number, the worse for the USD. 

The Euro Area and some of its members will publish preliminary reports on the Manufacturing and Services PMIs for June. Taken together, the numbers are expected to be better than in May, which may provide the Euro with fundamental support.  

In the evening, the USA are scheduled to report on the same indicators from Markit. The Manufacturing PMI is expected to remain unchanged at 50.5 points. The Services PMI may add 0.1 points and rise from 50.9 points to 51.0 points. These numbers are quite neutral for the USD. 

Another report worth paying attention to is the Existing Home Sales, which may significantly support the American currency. The indicator is expected to show 5.29M in May after 5.19M in the previous month.

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