EUR/USD: EURO tends to decline again

The pair EUR/USD has declined slightly at the Forex currency market on Tuesday morning, while external background remains bleak. By 9.15 Moscow time the Euro is at 1.4092 against yesterday’s closing level of 1.4112.

Despite massive sale of the Euro during all day on Monday, by the evening the Euro had been bought back, as there was no comforting news from the USA. Congress did not move ahead in the issue of the volumes of budget reduction, therefore cannot proceed to discussions about the rise of the national debt limits of the country. 

The data on the index of economic expectations ZEW in Germany will be released today – if the indicator turns out positive, it will be able to retain the Euro from drastic downfall. Most likely the pair EUR/USD will not go beyond the range of 1.4050-1.4130 at the trading session on Tuesday.