EUR/USD: Dollar is weak, Euro is growing

The pair EUR/USD is traded downward at the Forex currency market on Monday morning, regaining from the information received at the weekend, however it is still above the latest levels.

By 8.30 Moscow time the Euro is at 1.4315 against closing level of 1.4289 on Friday.

Thus, on Friday night after closing of the trading floors, rating agency S&P downgraded U.S. rating by one degree, depriving the country of AAA level, and giving a “negative forecast”.

A meeting of a “Big Seven” was held at the weekend, Finance Ministers of the countries, members of the union agreed to take extreme measures to avoid crisis.

So, panic, which crept over the market, last week received a logical explanation.   
 
This afternoon, investors will make use of all available external information; in the middle of the session the data on Eurozone will become known (investor confidence index Sentix, which is predicted to decline).

Most likely the pair EUR/USD will not go beyond the range of 1.4250-1.4390 at the trading session on Monday.