Uncertainty surrounding the French election has significantly increased the attractiveness of the euro. Carol Kong, a currency strategist at Commonwealth Bank of Australia, stated, “Fiscal policy might expand further if the right-wing party wins the election.”

Germany's consumer price index data for June, which slowed down, may prompt the European Central Bank (ECB) to cut interest rates at the next meeting. The data showed that Germany’s annual consumer price index slowed to 2.2%, down from the expected 2.3%.

This week, the key economic data affecting the euro is the preliminary HICP data for the eurozone for June.

Source: Fxstreet

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