Forex forecasts and market outlooks

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EUR/USD: general review

The euro strengthened against the US dollar yesterday amid retail growth in the Eurozone by 17.8% in May after a decline of 12.1% a month earlier. YoY, a decrease in the indicator slowed down from –19.6% to –5.1%, which also favorably affected the rate of EUR. The dollar won back part of the positions lost on Monday after the publication of data from the USA: the ISM Services PMI in July exceeded the forecast (50.1 points) and increased from 45.4 to 57.1 points.