Today was published the positive statistics on unemployment in Spain, which dropped to 20% in the second quarter versus 21% in the previous period. This level was the minimum for almost 6 years. The median forecast was at 20.3%. As a result, the number of unemployed fell last quarter by 216 thousand to 4.57 million people. The largest increase was recorded in the service sector. According to forecasts, GDP growth this year may reach 2.9%, which will support the euro. Despite this, we expect the price decline of the euro in the medium term with potential targets at 1.0850 and 1.0700.