On the eve, the euro ended trading with the growth of quotations, and it was the first day of growth this month. Today the bulls have a good chance of continuing the holiday. Firstly, the US Treasury will redeem $22.9 billion of Treasury bonds tonight, which will increase the surplus of dollar liquidity and thereby have a negative influence on the value of the American currency.

Secondly, the dynamics of the Fed rate futures indicate that the rate may be raised only in 2023. The data on inflation, which was published the day before, recorded a slight but still decline in consumer prices – the indicator dropped 0.02 percentage points to 5.37%. For the dollar exchange rate, this is a small but still a negative factor.

Trading recommendation: Buy 1.1720/1.1695 and take profit 1.1780.