Euro may return to the level of 1.1400
Price of euro continued to grow gradually against the background of positive statistics on the index of business sentiment ZEW of the Eurozone, which in April rose to 21.5, against the forecast of 13.9 and the previous figure of 10.6. It is worth noting that the same index in Germany rose to 11.2, up from 4.3 in March. According to our estimates, the euro may continue increase in the near future to 1.1400 and 1.1500, but the medium-term negative outlook remains unchanged due to the expected tightening of the Fed's monetary policy this year.
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