Euro/USD: Euro remains in the range
At the Forex currency market the pair EUR/USD continues to move slightly downward on Wednesday morning, remaining in the previous range.
By 9.00 Moscow time the Euro is at 1.4802 against closing session level of 1.4824 yesterday.
Investors are still interested in the safe currencies, moving away from risk amid ambiguous sentiments of investors in the global capital markets.
Authorities of Portugal said late last night that IMF and ECB agreed on the aid package to the country in the amount of E78 billion. The program is designed for three years; this year budget deficit should amount to 5.9% of GDP, in 2012- 4.5% of GDP.
At the same time the country does not have to introduce new measures of financial discipline.
In the afternoon, market’s attention will be focused on the index of business activity in the service sector of some countries of the Eurozone in April.
Most probably the pair EUR/USD will not go beyond the range of 1.4750-1.4850 at the trading session on Wednesday.
