EUR/USD: Euro goes down under pressure from external negative factor

The pair EUR/USD goes down at the Forex currency market on Friday morning for the reason of another round of deterioration in investors’ sentiment at the global capital markets.

By 9.50 MSK the Euro is at 1.4297 against yesterday’s closing level of 1.4332.

Situation at the global financial markets continues to deteriorate: weak U.S. statistics released yesterday had disappointed traders; then Citigroup announced downgrade of forecast for American economic growth in 2011-2013.

Investors started more actively hedge their capital against risk; which is evident due to sales volumes of the Euro.

This afternoon investors will be interested in producer price index in Germany, which is expected to be negative.

Most likely the pair EUR/USD will not go beyond the range of 1.4230-1.4340 at the trading session on Friday.