EUR/USD: Euro has slowed its fall

The pair EUR/USD is traded in the negative area at the Forex currency market on Tuesday morning, however the fall of the Euro has been temporary suspended due to the publication of strong Chinese statistics.

By 10.00 Moscow time the Euro is at 1.3487 against closing session level of 1.3488 yesterday.

Immediately after the publication of the Chinese inflation data, which turned out to be better than the forecast, the Euro went above 1.35 and reached the local highs at 1.3527, however investors’ enthusiasm has dried out later and the currency returned to the opening level of the session.

Morning data on GDP in France did not provide support the Euro bulls either- the indicator increased only by 0.3% on quarterly basis in QIV against the forecast of growth by 0.6%.

In general, the main driver in determining direction in the pair EUR/USD is still external background, which remains ambiguous.

Most likely the pair EUR/USD will not go beyond the range of 1.3400-1.3550 at the trading session on Tuesday.

 

 

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