25.07.2016 - We forecast a drop of euro to 1.0700

The price of euro is corrected after fell sharply on Friday. The volatility this week promises to be high in relation with the publication of important statistics on the labor market on Tuesday, the volume of orders for durable goods on Wednesday and US GDP growth. In addition, special attention should be paid to the Fed statement on monetary policy on Wednesday. In case of hints on raising interest rates this year, we will see a continuation of the negative dynamics of the euro with potential targets at 1.0850 and 1.0700. Our medium-term outlook remains negative.

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