“The basis for concluding the current review, and also for any future arrangements, will be the existing commitments,” he said. Those “outlined by the authorities differ from existing program commitments in a number of areas” and will have to be evaluated to see if they’re “of equal or better quality,” he said.
However, after reform proposals by Greek government have been seen as a “valid starting point”, we can now expect that traders will focus their attention back to ECB monetary steps and falling inflation.To remind ourselves, final CPI data showed 0.6% fall in Eurozone CPI. If it is to believe to the latest forecasts inflation is likely to remain negative at least until the summer.
Pair is likely to find support around 1.13 level and resistance above 1.1390 area. Later today, in the US session New Home Sales figures are scheduled for a release.
