EUR/USD: Activity in the major pair is low

The pair EUR/USD is traded slightly upward at the Forex currency market on Tuesday morning. By 9.15 MSK the Euro is at 1.4370 against yesterday’s closing level of 1.4357.

Activity in this segment of the market is low; investors are looking forward to the second part of the week when monetary authorities of large enterprises will have a meeting in Jackson Hole. It is expected that the Chairman of the U.S Federal Reserve Bernanke will give implication about new stimulus measures, and the head of ECB Trichet will assure that European economy will come out of a recession with minimal losses.

This afternoon, investors will be interested in preliminary index of business activity of industry in Germany, France and Eurozone. Index of investor economic expectations ZEW in Germany in August will become known later. Index of consumer confidence in Eurozone in August and the level of sales of new houses in the U.S. will be made public tonight.Most likely the pair EUR/USD will not go beyond the range of 1.4300-1.4420 at the trading session on Tuesday.