The head of the ECB Christine Lagarde said that vaccination of the population in the European Union has a beneficial influence on the growth of the European economy, but now it is too early to stop stimulating measures, inasmuch as about 3.3 million people are still in the status of unemployed.

Christine Lagarde pointed out that the risks to economic growth are balanced now, and market interest rates have decreased over the past month, which allows households and businesses to increase the volume of borrowings. According to the monetary authorities, the economy may show strong growth in the 3rd quarter. The PMI for the European industry will be published today, which may come out better than the median forecasts, which will encourage traders to buy the euro.

Trading recommendation: Buy 1.1750/1.1725 and take profit 1.1810.