EUR/USD (a 4-hour chart)
After almost reaching the 3-year high point the euro slowed its growth as the data on the number of applications for unemployment, GDP growth and other USA indicators fell short of expectations.
Richard Franulovich from Westpac says that if even half of the data will be published positive this week the expectations regarding closing the stimulation program will return. Franulovich expects that the dollar will be traded better than other major currencies this year.
Last week the situation changed in favor of the dollar ahead of non farm payrolls publication which will be published on Friday. Any positive data which will be released until June 19, when the U.S. Federal Reserve will make a statement on the policy will increase expectations for minimizing purchases of bonds by the U.S. central bank.
The U.S. labor market (NFP) will be the main event this week. ECB meeting on monetary policy will be Equally important, especially in light of not impressive recent data from the labor market and the retail sector in Germany.