EUR/USD: Euro started this week slightly upward

The pair EUR/USD is traded slightly upward at the Forex currency market on Monday morning.

By 9.20 the Euro is at 1.3479 against closing level of 1.3514 on Friday.

The weakness of the USD at the beginning of the week was caused by expectations of the report from two-party commission of the U.S. Congress which has been developing a proposal to reduce budget deficit since  August. Investors are concerned however that Commission will not offer anything fundamentally new and interest in risk will drop this week which will be advantageous for the USD.

It will be of interest that this week European Commission shall announce a finalized proposal on issuing bonds of Eurozone countries; however do not forget that Germany is still against this idea.

Most likely, the pair EUR/USD will not leave the range of .3500-1.3560 at the trading session on Monday.