EUR/USD: Euro continues to decline amid risk aversion
The pair EUR/USD is traded downward at the Forex currency market on Friday, continuing to experience external pressure
By 9.40 Moscow time the Euro is at 1.3559 against closing session level of 1.3602 yesterday.
So, the Euro fell below the critical level of 1.36 amid increasing geopolitical tension in Egypt and under the pressure from the news on Thursday that Axel Weber, head of Bundesbank is not going to aspire to the presidency of the European Central Bank in the future.
Due to the increased degree of tension in Egypt, the demand for safe currencies, such as the USD and Swiss Franc are increasing on Friday: yesterday, current leader of the country Hosni Mubarak has passed over some of his powers to the prime-minister, however he did not abandon this post.
The day is going to be eventful in terms of important statistics today – at 10 Moscow time the data on inflation in Germany in January will be known; at 16.30 Moscow time index of the trade balance of goods and services in the USA for December will be released. At 17.55 Moscow time the index of consumer confidence and current conditions of the Michigan University will be published.
