25, June 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The main traders pushed the euro to fall, on the one hand, there was a report of the European Central Bank and the head of the Bundesbank, Germany's Jens Weidmannis, who noted that it was unlikely the central bank would implement programs with unlimited purchases of government bonds. On the other hand, European finance ministers failed to convince in how to share the financial burden of the collapse of European banks, and further negotiations are expected on Wednesday.

It is expected that the this week economic data of the euro zone will show the further signs that the European economy began to recover from a recession that had lasted for six quarters.

According to the forecast, the unemployment rate in Germany in June, will remain unchanged compared to May, while the increase in the number of unemployed as compared to the previous month, is expected to be less significant than in May.

Meanwhile, consumer spending in France in May, according to the forecast, again declined, which corresponds to a series of indicators of weak car sales and the cost of clothing. This is indicated by economists HSBC.