EUR/USD: Euro is recovering at the end of the week

The pair EUR/USD is traded upward at the Forex currency market on Friday morning in expectation of voting in Italian parliament.

By 9.25 the Euro is at 1.3621 against yesterday’s closing level of 1.3602.

So, European Central Bank had to intervene yesterday before panic in the market could sweep over trading floors: ECB started to buy Italian and Spanish debt securities thereby knocking down their yield from the critical level, thus, reducing the volume of risk in the market.

However, vote in the Italian parliament about anti-crisis package shall complete today and after that current Prime Minister of the country Berlusconi can leave his post. It is assumed that Mario Manti, former Commissioner of the European Union can take over this position. Risks are coming from France today, which demanded from S&P confirmation of its rating at the level of AAA, as rumors about its possible revision have intensified at the market.

Attention of the markets will be still focused on Europe at the end of the week.

Most likely, the pair EUR/USD will not leave the range of 1.3580-1.3690 at the trading session on Friday.