Monday, April 13, 2015

$EUR/USD recovery halted around 1.0600

The shared currency remains in the red territory despite the recent recovery attempt, with EUR/USD now visiting once again the 1.0570 area.

$EUR/USD focus on CPI, US docket
The pair would remain under pressure ahead in the week, as Spanish and Italian consumer prices are due tomorrow, ahead of key retail sales across the pond. Prior surveys expect US retail sales to have gained 1.1% during March, reverting the previous contraction and thus supporting further USD-strength.
In the meantime, Greece remains a source of uncertainty and keeps weighing on the pair. Recall that the country needs to submit a list of reforms in order to unlock bailout funds by April 20th, ahead of the Eurogroup meeting on April 24th.