EUR/USD: Euro estimates of sentiments European leaders

The pair EUR/USD is traded with slow progress at the Forex currency market on Wednesday morning; yesterday, Presidents of France and Germany did not approve the idea of issuing unified European bonds.

By 9.35 MSK the Euro is at 1.4405 against yesterday’s closing level of 1.44071.

Thus, yesterday President of France Nikolas Sarkozy and German Chancellor Angela Merkel came up with proposal of creation of the unified government in Eurozone in the nearest future, which will work for 2.5 years with the primary objective to stabilize situation in financial sector.

At the same time both countries did not adopt the decision about issuing Eurobonds of 17 countries and it this fact has worried investors.

Macro-economic background is going to be not very eventful today; investors will be interested in European data this afternoon (Final value of consumer price index in June) and the U.S. data (Producer price index in July).

Most likely the pair EUR/USD will not go beyond the range of 1.4350-1.4450 at the trading session on Wednesday.