EUR Trading Outlook (01-07-2014)

The EUR/USDsoared and then eased a bit after the release of CPI data. The euro is treading at 1.3655. The euro has strengthened against the dollar on 30 June in early trade despite mixed data signals from the Eurozone, helped by the dollar’s weakness after the negative data surprises from the US in the previous week. The EUR/USD rose to as high as 1.3660 after the data releases from near 1.3640 prior to that. The pair touched it’s highest since 9 June at the high. The euro-area inflation rate held steady in June at less than half the European Central Bank’s target, underscoring the challenge faced by Mario Draghi as he tries to stoke prices and ignite growth.