International Forex Inforamtion

Dollar pares earlier gain as markets remains cautiously in range ahead of the key events later this week. Euro was lifted mildly in European session following release of generally better than expected business and consumer survey data. Sentiments across different components improved for the third consecutive months in Jun. Economic sentiments rose from 70.2 to 73.3. Industrial confidence was up from -33.2 to -31.9. Consumer confidence was up from -28.1 to -25.1. Services confidence also rose from -22.5 to -19.8. The overall sentiment index is also at highest level since November. Though, the data were not strong enough to suggest sustainable near term recovery in economic activity yet. Markets will likely remain cautious on Euro ahead of ECB meeting later this week.