Euro/USD: There is no reason to buy Euro yet

The pair EUR/USD is traded downward at the Forex currency market on Wednesday morning, as investors are waiting for the U.S. strong statistics on Thursday and Friday.

By 9.15 Moscow time the Euro is at 1.4386 against closing level of 1.4409 on Tuesday.

The market expects that indicators which are scheduled for the release tomorrow will show reduction in the number of initial applications for unemployment benefits and the growth of the retail prices in the U.S. Thus, investors gained confidence that the world economic recovery continues at a good pace.

The day is not going to be very eventful in terms of important macro-statistics; therefore external background will continue to guide direction of the trading movement at the session today.

Most likely the pair EUR/USD will not go beyond the range of 1.4300-1.4470 at the trading session on Wednesday.

 

 

 

 

 

[More]