A subdued trading day on Monday, in the absence of U.S. and U.K. data due to a market holiday. The levels to watch remained pretty much unchanged in the most U.S. dollar and British Pound currency pairs. WTI Crude Oil remains steady since OPEC meeting.
Euro Is Falling Lower After Draghi’s Testimony; German CPI Ahead
Euro has been the weakest currency among the G10 on Monday, from ECB President Mario Draghi’s comments for the economy. Draghi kept a dovish tone in the testimony he had before the European Parliament and stated that it is too early to expect changes in the monetary policy as officials expressed their opinion that economy needs further support. Today there are a lot of economic indicators from the Euro area that will impact the market. May’s preliminary German CPI figures will be monitored closely by investors as the headline German CPI is “the leader” for Euro area’s CPI. It is expected to come out 1.6% versus a robust 2.0% in April.
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