July 8th, European session

In trading in Europe, major currencies show mixed performance. The Swiss franc, Japanese yen and euro are trading in positive territory, the rest are in negative territory. Moreover, the franc strengthened by 0.87%, while the loonie fell by 0.64%. Investors are avoiding risky assets after the minutes of the June meeting of the US Federal Reserve confirmed an impending decision to cut asset purchases this year.

With the opening of the European session, the euro received support from the EUR / GBP pair. In anticipation of the release of the ECB policy review, the euro rate soared to 1.1842. Buyers probably expected the ECB not to raise the target. Although it is not easy to single out the main reason for the rally in the euro at the beginning of the euro session, as it could also be a technical factor - a rebound from the daily trend line.

Buyers have reached 45 degrees. The level of 1.1860 has appeared on the horizon again. In the current situation, you need to monitor the dynamics of the AUD/USD and NZD/USD pairs. The Australian and New Zealand dollars are indicators of risk appetite, so the euro will not rise high without a rebound on them.