This week, the Kiwi could decline to the level of 0,644

A 7 billion euro loan to Greece made by the EU did not provide a significant support to the euro, which according to the last week's results came close to the May low of $1,082.

This level breakthrough could trigger a decline in the euro to its annual low of $1.05.

The weakening of the EUR/USD pair is related to a growth in the yield spread between the US and German 10-year bonds from 1.518% to 1.55% over the past week.

This week, the US dollar can be supported by the statistics on home sales. The data on home sales in the US secondary real estate market will be released on Monday, and the data on the primary one will be released on Friday. In the short term, the USD/JPY pair is likely to consolidate above the level of 124.5.

According to Governor Mark Carney, low inflation in the UK will not impede an interest rate rise in the country. According to the last week's totals, the pound gained almost one figure. Against the background of 0.4% (m/m) growth in retail sales in the UK expected in June, the GBP/USD pair could rise to the level of 1,567 this week.

Against the background of a sufficiently strong growth of inflationary pressure in New Zealand in June, and the falling prices for dairy, the RBNZ can support the national economy by lowering its key interest rate from 3.25% to 3% on July 23. Implementation of this event could trigger the Kiwi to decline to the 0.644 level.

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