The dollar barely reacted following Thursday's announcement of a $579 billion infrastructure plan. The forex market seems to have entered a summer mode. Last week was very quiet on the major currencies.

EUR/USD was supported by slightly stronger than expected Eurozone economic data released on Friday. Germany's consumer confidence index for July fell -0.3 points, which was stronger than expectations for a -4.0 point decline. Tomorrow will be published the inflation rate in Germany. The Swiss euro is framed by two slants, one ascending in the medium term which serves as support, the other descending as resistance in the shorter term. In the meantime the bias is neutral. If the euro manages to cross this resistance and then the 1.0977, the positive momentum would be revived and the pair could regain height towards 1.1030.