Exchange EUR /USD on Monday continued its decline as a result of testing support at 1.3800 /00. However, closing with an increase of two of the three major U.S. stock indicators weakened slightly negative pressure on the quotations of that currency pair, and today's European session, it opened at the mark near 1,3920.

macroeconomic data, released yesterday, were heterogeneous - in terms of their potential impact on rates FX - in nature, but in general, have contributed to the preservation of bear trend of the euro to the dollar. Indicator of investor confidence in the euro, calculated Sentix GmbH, fell in July, TG to the value -31.3 pt. that apparently was the result of the June weakening purchasing activity in the global financial sector. The average forecast value and the previous month in this case amounted to -25 and -27 pt. respectively.

On the other hand, the index of business climate in the United States service, according to the ISM, in the past month was 47 points against 44 in May, TG and 46 pt. expected to average in the market.

These macro-and microeconomic statistics, which are quite large amount will go into next week, obviously, might begin to reflect the beneficial effect of in the last quarter of monetary incentives on the performance of the real sector of the global economy. The positive impact of the financial segment may have a starting tomorrow and the outcome of the meeting of G8, which the leadership is unlikely to accelerate interest in the emerging process of weakening investment activity in global markets.

At the same time, the ability of the euro once again play possible in the coming weeks, the positive changes in the relatively high risk assets in this term is questionable. In the context of the revitalization process in the European countries associated with the monetary incentives for macroeconomic, financial flows can be at this time to circumvent the euro side.

In terms of short-term period, the rate of EUR /USD for reconstruction in the bull trend, obviously, needs to be re-gaining a foothold on the points above 1.4000. Mid-term potential of the apparent decline of the currency pair that seems to remain relevant.