EURUSD rose on Friday and closed at 1.3648. The ECB Executive Board Member Yves Mersch stated that there are no current deflation threads in the Eurozone. During the weekend the President of the United States Federal Reserve in St. Louis James Bullard urged the market participants to set aside the negative estimate of the first quarter GDP and look forward as he expects the US economy to expand at around 3.0 percent this year and the unemployment rate to drop below 6.0 percent.
Data released today indicated that the CPI Flash Estimate in the Eurozone remained at 0.5 percent on an annual basis in June. Investors are now looking forward for the Pending Home Sales data due from the United States later today.
Support for the EURUSD is seen at 1.3585 and resistance is seen at 1.3658.
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EURUSD trading higher after the CPI Flash Estimate. US Pending Home Sales on focus.
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