EUR/USD: Euro continues to grow amid external optimism

The pair EUR/USD continues to grow at the Forex currency market on Tuesday morning, as investors’ interest to safe currencies wanes.

By 10.20 Moscow time the Euro is at 1.3819 against closing session level of 1.3806 yesterday.

Since the USA and China continued to demonstrate positive statistics, investors’ confidence in improvement of global recovery has strengthened, diminishing traders’ wish to withdraw to safe harbors.

In particular, the U.S. macro statistics released on Monday, showed that income of Americans increased by 1% in January against expectations of growth by 0.4%, thus, spending will rise as well, which will support American economy on the recovery path.

In general, the situation is favourable for the Euro, February has become the second consecutive month which the Euro concluded with reinforcement. 

Most likely the pair EUR/USD will not go beyond the range of 1.3750-1.3890 at the trading session on Tuesday.

 

 

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