Euro/USD: Euro is being sold due to the news pressure

The pair EUR/USD is traded downward at the Forex currency market on Thursday morning after the release of the negative Portuguese news yesterday.

By 9.15 Moscow time the Euro is at 1.4087 against closing session level of 1.4096 yesterday.

Sales of the pair have been triggered by the Portuguese information on Wednesday night: parliamentary opposition voted against the bill to reduce budget deficit which included unpopular measures; as a result Prime Minister of the country resigned. 

Now, due to the dismissal of the Cabinet, chances that Portugal will seek financial help from outside are increasing- it is extremely negative factor for the Euro, as it will reveal new debt problems in Eurozone.

Daily statistics on the Eurozone will be of minor importance; in the afternoon interesting U.S. news will be released.

In addition, a two day summit of the European Union will begin on Thursday; issues of support to the Eurozone countries are going to be discussed there.

Most likely the pair EUR/USD will not go beyond the range of 1.4010-1.4130 at the trading session on Thursday.

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