More pressure piling up on Euro due to series of data releases

Euro looks under pressure against all G7 currencies owing to this week full of significant data releases.

The European markets will be reacting to a whole host of economic data coming out this week, says Nick Parsons of National Australia Bank. The upcoming CPI data will most likely indicate to the ECB that it must persist with its quantitative easing (QE) programme. At the moment, European bond yields have calmed, he says. But volatility is not far away either. We believe any unexpected data can trigger volatility. Moving to the US, he says most analysts see the Federal Reserve raising rates in September. But if market pricing is anything to go by, he sees the first rate hike happening in January or February.

Although the European bond yields have comforted the noise so far. But the resilience in Euro zone is still lingering either, it is most likely to trigger the volatility on the back of any unpredicted statistics.

With the series of data release this week including ZEW survey of analysts' expectations, France & German PMI, German's IFO survey and the final Consumer Price Index (CPI) which should print in quite close to nil but even at close to that level it will strike a chord us why the European Central Bank (ECB) has to continue with its QE program up until September 2016.

Trading tips on EURINR Futures:(EUR/INR)

Near month Futures contracts of this pair has shown highest volumes with highest OI (Open Interest) but the pair dipped 0.02% from previous close. So, rising volumes and Open interest with declining price indicates weakness in the trend. One can see shorting opportunities if the pair manages to breach 72.3573 levels for a target of 72.0621.