Germany: May Import Price Index (MoM) falls 0.4%; (YoY) drops 2.9%

The EUR could continue to trade defensively, says Brian Martin, FX Strategist at ANZ, who believes a close below the EUR/USD 1.3020-50 area may signal a possible test down to the 1.25-1.27 range. The EUR performance will depend largely by the European Commission summit on 27-28 June and the ECB policy decision next week, Martin added.