Euro in European trading session Tuesday evening (7/07) tracked down a thin line with the release of the Zew index of economic sentiment data for Germany and the Euro zone in July, declining sharply. When this news was revealed, the pair EUR/USD traded in a range of price levels 1,106 per u.s. dollar.
Meanwhile, in previous trading sessions i.e. Monday yesterday, the pair EUR/USD managed to remove his descent and began creeping up to a range of price levels 1.11 per u.s. dollar. While in the New York session, the pair EUR/USD the observed increase in price of 0.35 percent, traded into 1.1065 per u.s. dollar.
ZEW Economic Sentiment Index
A survey by the Institute showed that an index of economic sentiment in Germany this July declined sharply to-6.8, under the ekspetasi analysts of 9.0 percent and far below the previous index of 19.2. In fact, the ZEW economic sentiment Index for the Euro zone fell fell down-14.7, whereas on the index of previous 12.6 and predictions only estimates the sentiment index will drop to 12.3.
The fall of Germany's economic sentiment index and the European zone indicates pessimism towards the situation of the economy there. This condition may occur because of the uncertain situation of post-war referendum that won Brexit.
Data Releases In The U.s. Economy
While from the side i.e. u.s. dollars Euro rivals, in Monday's trading session yesterday there is no release of data in any economy, but on Friday U.S. Statistics Agency last week released the U.S. CPI data for the month of June.
The data showed that the U.S. CPI unchanged i.e. remains at the level of 1.0 per cent YoY in under expectations of a rise in the presence of 0.1 percent. Even so, the U.S. core CPI rise of 2.2 percent to 2.3 percent in YoY. In addition, the U.S. also announced the Statistical data of retail sales in the U.S. in June that creeping up quite significantly from o. 2 percent to 0.6 percent.
In addition, as for market participants who are waiting for the release of the data, as well as the US housing permits builiding starts for the month of June. Estimated data for Building permits in June the U.S. will experience increased from previously only 1,136 million to 1,150 million. In addition, U.S. housing starts in June predicted would rise slim to 1,170 million than previous 1,164 million.
Not only that, most investors are still focused on waiting for the announcement of interest rates by the ECB on Thursday this week to see whether the central bank will provide monetary stimulus to lower the potential risk of Brexit.
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