Euro/USD: Euro grows up after considerable sales
The pair EUR/USD is traded upward at the Forex currency market on Monday after two days of considerable sale last week.
By 8.50 Moscow time the Euro is at 1.4397 against closing level of 1.4317 on Friday.
Sales of the Euro on Friday were caused by the negative sentiment at the global capital market triggered by the fears of slowing down of the world economic recovery in general and that of American one in particular.
The Euro started to strengthen today as it has reached the levels attractive for the purchase. In addition, investors overestimate the prospects of the interest rate increase by the ECB in July, noting that it is a good option too, and just a cycle of increases will shift one month forward.
The day will be uneventful in terms of macro-statistics today; therefore external background will remain the driver of the movement.
Most likely the pair EUR/USD will not go beyond the range of 1.4320-1.4450 at the trading session on Monday.
