On Tuesday the EUR/USD rate began just below 1.236. June's industrial production (-0.4% m/m) in EMU together with the German ZEW index decrease caused the euro to weaken to 1.233. Later on US consumer price unexpected June's fall returned the rate to 1.237. However, the American trading session closed near morning values after industrial production release in the US. Today no important statistical data are released, we expect a quiet trading with minimal changes in a range of 1.2290 and 1.2390.
ČSOB - Investment Research