This Friday the preliminary results on the evolution of German production will be known. That is, the impact on the Euro crosses will be seen by the publication of the German PMI.
The manufacturing PMI for the month of July is expected to show results below 65 points. Although the data remains highly positive, it would be the third consecutive month with declining results.
Germany closing the month of July, one month before the next elections that will close the Merkel cycle, with concerns about the increase in infections due to the new Delta variant of Covid and the damage caused by the floods that took place days ago.
The German scenario replicates what is happening in the world with variants, inoculation campaigns and a slowdown in economic growth.
The EURUSD, affected by the ECB announcements, opened at 1,1794 and closed sell at 1,1790. Then the cross went through new corrections and is currently at 1.176.