Forex: EUR/USD around 1.3190 ahead of US data

According to the Economics Research Team at Goldman Sachs, “Our analysis has highlighted the potential medium-term benefits of successful structural reform. Implementing such reform may be politically challenging, notwithstanding its economic benefits. However, our results suggest that, somewhat paradoxically, the present context gives the Euro area periphery as good a window of opportunity as previous episodes of success to undertake structural reforms and support the real exchange rate adjustments that are still needed. The climate of economic and political difficulty reinforces the need for reform and creates the pressure to undertake difficult changes.”