Euro/USD: the main pair is stable at the beginning of the week
The pair EUR/USD is traded slightly downward on Monday morning after a surge at the end of last week.
By 9.00 Moscow time the Euro is at 1.4463 against Friday closing session level of 1.4483.
The USD didn't feel a relief after democrats and republicans finally came to an agreement about 2H budget expenditures’ cut: temporary financing scheme still remains intact in USA and draft budget still has to go through channels before it is effective. U.S. President Barak Obama stressed at the end of last week that some sectors of economy would suffer from cuts in financing, but the main risk – partial resignation of the government – was removed.
Today will be rather calm in macroeconomic terms, so the external background will remain the main market driver.
Most likely the pair EUR/USD will not go beyond the range of 1.4380-1.4520 at the trading session on Monday.
