The main news of the current week is the continued US currency gains, and the transition of major currencies lower to the annual minimum. On Friday, EUR / USD broke out of the consolidation in the lower direction, breaking through support at the important level of 1.1515.
On Tuesday, EUR / USD is traded in a narrow sideway consolidation channel. Market participants overestimated the impact of problems in Turkey economy on the Eurozone, and now they are trying to play this situation back. Today in Europe, there was a large block of statistical information. In Germany, preliminary data on GDP for the second quarter became known, a fact of 0.5% with a forecast of 0.4%. At the same time, the indicator in annual terms fell short of the forecast value, 2.3% with the expected 2.5%.
Better than expected data were provided with regard to EU GDP statistics and the ZEW report. Preliminary data on changes in the EU GDP for the 2nd quarter show an increase of 0.4% against the expected 0.3%, while the change in the annual indicator is 2.2%, with the expected 2.1%. The index of economic conditions in Germany according to ZEW for the month increased from 72.4 to 72.6 points, this is the first growth of this indicator in 2018. The index of economic sentiment was -13.7 after -24.7 a month earlier and -20.1 according to experts' forecasts, this indicator also shows positive changes in this indicator in the first year. This statistics was spoiled only by industrial production data in the EU as the actual figure fell by 0.7%, with the expected decline of only 0.3%.
No more important economic news on the market today is expected, therefore, traders will be guided by these data, as well as changes in the geopolitical situation in the world. The attention of the markets is still focused on the dynamics of the US dollar.