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shows ambiguous dynamics against the , remaining close to the local highs, updated in the middle of last week. statistics from Europe, published on Friday, failed to support the euro, so investors retained their correction attitude. Investors were focused on data on consumer inflation in the Eurozone in January, as well as on statistics from Germany, which recently shows a weakening of economic growth. The in January fell by 1.0% MoM after zero dynamics last month. Analysts were expecting a decline of 1.1% MoM. German statistics reflected the preservation of the previous GDP growth rates in 4Q2018: by 0.0% QoQ and 0.6% YoY. Investors were disappointed by the Ifo business data. The February index of business optimism fell from 99.3 to 98.5 points, below the market expectations of 99.0 points. The index of economic expectations for the same period fell from 94.2 to 93.8 points, with a constant forecast.

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After a brief rise on Friday and a test of 1.1539 abruptly changed the trend and declined to the level of 1.1476. Today, investors will pay attention to statistics on the in the area.

It is expected that on a monthly basis, the value of the indicator will decline to –2.3% in November from 1.2% a month earlier, and on an annualised basis it is expected to drop to –1.5% in November from 0.2% a month earlier. If the forecast proves right, the pair will fall under pressure.

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