Today was published statistics on GDP growth in France in the second quarter. As a result, the data fell short of analysts' expectations and showed no growth compared with the previous quarter. We recall that in the first quarter, the French economy expanded by 0.7%. The slowdown in consumer spending and investment were the main reasons for the lack of growth. This fact is negative for the euro. We see no reason for the growth of quotations of the euro in the medium term and maintain a negative outlook with the targets of 1.05 and 1.07.