The growth rate of retail sales in Europe could accelerate from 0.8% to 1.7%, which is simply superb, given the preliminary data on inflation, which showed its acceleration from 1.2% to 1.9%. Thus, the single European currency has well-founded reasons for growth. Moreover, the number of open vacancies in the U.S. should decrease from 6.6 million to 6.4 million. Thus, absolutely all the data coming out today indicate exactly the weakening of the dollar.
The EUR/USD currency pair continues to fluctuate within the range of 1.1650 / 1.1750, gradually increasing bullish interest. Probably, we can assume the preservation of the current mood with the subsequent movement to the upper boundary, the main move that should be only considered after fixing the price above 1.1750.
