Euro will move from the death point next week

Friday's trading session was annoyingly calm.

On the currency market were not observed any movements.

The euro was traded for three consecutive days in the flat, playing with my nerves with the level of 1.10. The recent meeting of the ECB has not helped the pair to determine its direction, because it did not bring any concreteness for the current situation. Only one thing is clear - additional incentives are not excluded, but the regulator does not intend to hurry.

Next week, the main event will be the meeting of the Federal Reserve on Wednesday, July 27. It is possible that up to this event, the main currency pair will continue to consolidate, and the decision of the US regulator will be the long-awaited catalyst that will bring back EUR/USD to life. Some sugnifficant actions by the central bank are not expected, but the rhetoric, as in the case of the ECB, will attract the attention of market participants. Players will catch hints for the timing of the next rate hike.

In this aspect, it will be interesting to observe the evaluation of the current state of the US economy. It is possible that after the June employment report, the Fed will mark the stabilization of the labor market after the May decline. If the tone of the Central Bank will prevail positive notes, the pressure on the euro may increase. In the case of such a scenario, investors will rush to buy defense assets, such is the dollar. Thus, the single currency could come under a double pressure.