Last week economic calendar looks better for the Euro Area than for USA. We can see that the trade balance for Europe rise to 12.0B, the CPI stagnated at 1.7% and the current account was over expectations, even though the data from Germany was mostly lower than expected. For the United States the TIC, building permits, CPI, Philly Fed came under market expectations and only housing starts and industrial production came better than forecasted.

Tomorrow will begin the Flash PMI week. Flashes for manufacturing and services will be published for Germany, Spain, Italy, and Euro Area. For the United States will be published new home sales, core durable goods orders and prelim GDP, but the list may go on.

From the technical point of view, we can see that the price drew a spinning top candle, meaning indecision. A good signal of what the price might do could be given by a close over 1.3140 or under 1.3040.