EUR/USD: Euro started to regain lost positions
The pair EUR/USD is traded upward at the Forex currency market on Wednesday morning after two days of sales caused by the release of the U.S. positive macro- economic statistics.
By 9.40 Moscow time the Euro is at 1.3696 against closing session level of 1.3649 yesterday.
Two factors gave rise to the recovery of the purchase interest to the Euro: first of all the Euro went down to the levels, attractive for purchase (1.3524) and secondly, the U.S. statistics came out better than expected, which persuaded investors in prospects of stability and due to which the pressure of the information from Libya began to ease.
Thus, index of U.S. consumer confidence rose to the level of 70.4 points in February against expectations of 65 points and the previous revised value of 60.6 points. In addition, index of expectations increased to the level of 95.1 (87.3 previously) and index of current conditions went up to 33.4 points (31.1 point earlier).
Therefore, stability of the economic recovery in the U.S. reassured investors and trades are back to normal so far.
Today investors will be interested in statistic from Eurozone (industrial orders for December) and this afternoon the data on the U.S. houses sales will be released.
Most likely the pair EUR/USD will be in the range of 1.3590-1.3750 at the trading session today.
