The euro continued to decline against the dollar strengthening, reaching a six-month low. Downward pressure on the single currency was weaker than the data presented in the euro area. index of business activity in the manufacturing sector in May fell to 55.5 while the forecasted value of 56. The index of business activity in the services sector amounted to 53.9 against the forecast of 54.6. Presented by the US data were better than predicted values, to provide some support to the dollar. index of business activity in the manufacturing sector rose to 56.6, while the services sector - up to 55.7 against the forecast of 56.5 and 54.9 respectively. Sales of new homes fell by 1.5% while the forecast decline of 2% in April. Today is also the minutes of the last Fed meeting will be published.
According to technical analysis course overcame the support 1.1730. And the euro sellers were able to consolidate below 1.1700, the EUR / USD is trading at 1.1690-95, it is likely that Medevedev prodalzhat further depreciation of the euro to 1.1660 or below 1.1630. When returning above 1.1730 to 1.1810 growth is possible.
Based on materials WELTRADE