EUR/USD (a 4-hour chart)
EUR/USD was trading in a flat again despite the negative macroeconomic data from the Eurozone. The IFO business climate release in Germany in June came out worse than median forecasts showing a decline for the second month in a row which is quite a wake-up call for the leading economy in the Eurozone. After that the euro/dollar fell but then managed to regain lost ground. The macroeconomic statistics from the U.S. market presented a pleasant surprise - housing sales in the primary market in May totaled a record 18.6% which shows the restoration of the property market and the consumer confidence increase. The dollar rates have responded to this positive report with a growth.
The GBP/USD remained under pressure after the BoE’s leaders’ inflation speech in the Parliament. The regulator decided to slow down this time and gave a restrained assessment of the prospects for an economic growth in the future after the first rate growth. Investors took it negatively and began to sell the British currency.
The USD/JPY left the side range. The USA market did not please the market with positive consumer confidence statistics and housing sales in the primary market which confirmed a steady upward trend in the U.S. economy. In the light of this there was a quotation increase on the world's leading stock markets, the U.S. S&P500 once again set a new historical high.
However, at the trading day closing investors decided to take profits on the stock markets, whereby observed sell risky assets.