EUR/USD: Negative external factor gives Euro a lead to a descend
The pair EUR/USD continues to descend at the Forex currency market on Tuesday morning despite attempts of slight recovery in Asia.
By 10.35 Moscow time the Euro is at 1.3104 after closing session level of 1.3125 yesterday.
Fears regarding debt problems of Eurozone and their further extension in the peripheral countries of the area keep market participants on their toes, which is resulted in the lack of interest in risks. Furthermore expectations that China will introduce new measures to cool its economy remain an additional factor of pressure.
All these factors are taking the Euro away to the lows of eleven weeks.
Data on unemployment rate in Eurozone will be released today; morning news from Germany where employment rate growth begun to show in October has been ignored so far.
Markets’ attention is still focused on the external background.
Most likely the pair EUR/USD will not go beyond the level of 1.3075-1.3290 on Tuesday trading session.
