EUR/USD: News from Italy knocked Euro down

The pair EUR/USD is traded downward at the Forex currency market on Tuesday morning due to aggravation of the European debt problems.By 8.45 MSK the Euro is at 1.3612 against yesterday’s closing level of 1.3685.

It became known last night that rating agency S&P downgraded ranking of Italy by one step, to A from A+, maintaining “negative” forecast. Agency forwarded ranking for review three months ago saying that risks for the country are increasing amid escalation of the debt problems and due to inactivity of the national authorities.

The news knocked the Euro down, although it had been expected.Most likely markets today will shift to wait and see attitude: a two-day meeting of the U.S. Federal Reserve will start tonight as the outcome of the meeting, important declarations will be probably made. Most likely the pair EUR/USD will be in the channel of1.3570-1.3650 at the trading session on Tuesday.