The overall mood of consumers in June is somewhat restrained compared to the previous month. The consumer climate has declined slightly. Following a value of 10.2 points in June 2015, the overall indicator is forecasting 10.1 points for July, in line with market expectations.Income expectations, on the other hand, have reached to a new post-reunification record, while economic expectations and the willingness to buy have registered some significant declines.
The previously unsuccessful attempts to find a solution to the debt crisis in Greece as well as the country's impending default now appear to be dampening German consumers' economic outlook. The economic indicator has slid significantly. The willingness to buy is also declining somewhat in its wake, but is still maintaining its overall high level. In contrast, income expectations appear to still be completely unaffected. In June they reached a new high since the reunification.
After the data pair edged lower, but rebounded immediately currently being traded around 1.12 handle. Pair is likely to find support around 1.1150 level and resistance above 1.1250 area. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
