EUR/USD: Instability in Europe buries Euro again

The pair EUR/USD goes down for the second consecutive day at the Forex currency market - investors have analyzed situation in Ireland and they fear
that elections in Ireland can become an obstacle for the talks with ICF and EU.
 

By 9.55 Moscow time the Euro is at 1.3545 against closing session level of 1.3627 yesterday. Political limbo in Ireland has been actively discussed this morning at the market. Prime-Minister of Ireland Cowen stated that in January as soon as the budget is adopted, the country's parliament will be dissolved and elections for a new parliament will take place; while Cowen is not going to resign yet. Market participants weigh the risks of this factor which impacts on the sales of the Euro.

The day is going to be eventful today. The data on the Eurozone countries (Germany, France) will be released and in the afternoon important news from the U.S will become known including revised GDP value in QIII. All these together will intensify volatility at the market. Most likely the pair UR/USD will not go beyond the range of 1.3500-1.3750 on Tuesday trading session.