EUR/USD: Euro analyses morning statistics

The pair EUR/USD is traded slightly downward at the Forex currency market on Friday morning.

By 9.00 MSK the Euro is at 1.3771 against yesterday’s closing level of 1.3777.

Morning news that International Rating Agency S&P downgraded the rating of Spain to the level of AA- against the previous level of AA with the “negative” forecast was taken reasonably pessimistic in the market, as rating downgrade of the weak peripheral countries is not a surprise for traders any more.

Statistics of China did not add any positive factors showing decrease in inflation levels in September. Along with the data of this week, which demonstrated decline in export volumes, Chinese statistics indicates deceleration of the economy of China, measures of the government finally yielded fruit.

Investors will be interested in statistics on trade balance in Eurozone this afternoon, tonight their attention will be focused on the U.S. retail sales data.

Most likely the pair EUR/USD will not go beyond the range of 1.3700-1.3800 at the trading session on Friday.