28.07.201702:21 Forex Analysis & Reviews: The euro was unable to stay on the reached maximums

The euro did not manage to remain on its highs, despite the good data released in the first half of the day, which showed the growth of Germany's consumer confidence in August this year.

According to preliminary data, the leading index from the German institute GfK was 10.8 points against the 10.6 points in July. Economists had expected the index to be at the level of 10.6 points.

The growth of the index persists, as consumers project further recovery of the country's economy this year, which could accelerate in the second half of this year.

The sub-index of economic expectations in July was at the level of 44.6 points against 41.3 points in June. The sub-index of expectations of income in July also rose to 60.9 points against the 60.2 points in June.

A slight slowdown was noted in the new lending to eurozone companies, while the growth in household lending remained unchanged.

According to the European Central Bank, household lending in June this year showed an increase of 2.6%, compared to the same period last year. Lending to corporations increased by only 2.1% after growing by 2.5% in May. The monetary aggregate M3 in June grew by 5.0% compared to the same period of the previous year. Economists had expected the unit to grow by 5.0%.

The US dollar ignored the growth in the number of initial applications for unemployment benefits and continued its strengthening against the euro and the pound in the afternoon amid positive data on orders for durable goods, which significantly exceeded the forecasts of economists.

According to the report of the US Department of Commerce, orders for durable goods in the US in June this year rose thanks to a strong demand for civil aircraft. Thus, orders for durable goods increased by 6.5% compared to the previous month, while economists forecast an increase in orders of 3.8%. Excluding orders for the transport sector, growth was only 0.2%.

According to the US Department of Labor, the number of initial applications for unemployment benefits for the week of July 16 to 22 increased by 10,000 to 244,000. Economists had expected the number of applications to be at 240,000.

At the moment, it is recommended returning to the buying of the European currency after returning to a larger support level 1.1630, a surge in volume that will indicate the presence of large euro buyers in the market.