Euro/USD: Euro is under pressure at the beginning of the week
The pair EUR/USD is traded downward at the Forex currency market on Monday morning, investors try to escape from risk, due to the fears that debt crisis in Eurozone will resume.
By 9.15 Moscow time the Euro is at 1.4374 against closing session level of1.4429 on Friday.
Market believes that Greece will declare default sooner or later, as it is unable to cope with its internal problems even on conditions that it receives help from other countries.
Furthermore, the rate of the Euro is under pressure exerted by the elections in Finland where National Coalition Party won the elections formally, however the true winner is the Party “The True Finns” which took the third place in accordance with the number of votes. Observers believe that if a Nationalist Party assumes the power it can seriously shake positions of the Euro in the country.
The day is going to be uneventful in terms of macro-statistics, therefore the market will be guided by the external background.
Most likely the pair EUR/USD will not go beyond the range of 1.4350-1.4430 at the trading session on Monday.
