EUR/USD: Investors buy Euro thanks to China
The pair EUR/USD has consolidated at the Forex currency market on Tuesday morning, following the statement made by China of readiness to provide help to the needy countries of EU.
By 9.15 Moscow time the Euro is at 1.3169 against closing session level of 1.3131 yesterday.
This morning Vice premier of the State Council of PRC Wang Tsshishan noted that his country has already taken concrete steps to support Eurozone in regards to debt problems and is ready to assist further.
The fact that China, which has the largest gold reserves in the world will provide support to weak European countries have a positive impact on traders’ sentiments, indicating interest in risk.
Of course Chinese party has made such decision for a reason – European Union is the largest trading partner of China.
The day is going to be uneventful in terms of macro-statistics, although some interest news will be released on a number of countries.
Most likely the pair EUR/USD will be in the range of 1.3090-1.32801 at the trading session on Tuesday.
