EUR/USD: Euro remains under European pressure

The pair EUR/USD goes down at the Forex currency market on Tuesday morning in anticipation of Italian news.

By 9.25 the Euro is at 1.3743 against yesterday’s closing level of 1.3780. 

Investors are not in a hurry to act awaiting outcome of the vote on the financial report of the government about budget execution in Italy in the last fiscal year. It will be a kind of barometer of confidence to the current prime-minister Silvio Berluskoni; a probability of his resignation has been discussed for a several days.

Next week Italy will start discussions of the provisions of the program to reduce budget expenditures which can exacerbate market risks.

Statistics on Eurozone is weak. Today’s data on Germany will be of interest to investors and will be able to support the Euro if the released data will be above expectations.

Most likely, the pair EUR/USD will not leave the range of 1.3700-1.3800 at the trading session on Tuesday.