EUR/USD Trading Higher, European Commission Raises Italy's Budget Deficit Forecast

EUR/USD is trading at 1.0642, up 0.0013. The European Commission forecast today that Italy's structural budget deficit would rise to 2.0 percent of GDP during 2017 from 1.6 percent in 2016. Italy's National Institute of Statistics (ISTAT) is scheduled to release gross domestic product (GDP) Tuesday at 4:00 a.m. ET.