EUR/USD: Euro is being slightly corrected after yesterday’s rise

The pair EUR/USD is traded with slightly downward at the Forex currency market on Thursday morning after a sharp   rise yesterday.

By 10.45 Moscow time the Euro is at 1.3124 against closing session level of 1.3132 yesterday.

The reason of active purchase of the Euro was the auction on Portuguese government bonds, and although the country received less funds than they had planned, access to the market of international borrowing was affirmed.

Optimism predominates in the market also due to the conviction of the players in the stable recovery of the U.S. economy the latest released data can serve as an indication of it; the forecast of the statistics which is scheduled for the release this week is also optimistic. Thus, it is assumed that industrial production in the USA increased by 0.5% in December against the growth by 0.4% in November and the rate of retail sales in December was maintained at the level of November.    

Most likely the pair EUR/USD will not go beyond the range of 1.3050-1.3190 at the trading session on Thursday.

 

 

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