EUR/USD: Pressure on Euro can intensify

The pair EUR/USD is traded slightly upward on Monday morning amid completion of a series of unrests in Egypt; however it still remains under the pressure in advance of the meeting of the Finance Ministers of Eurozone in Brussels today.

 By 9.27 Moscow time the Euro is at 1.3549 against closing session level of 1.3548 on Friday.

Debt problems in Eurozone came in the forefront again for investors – on the one hand the yield of Portuguese government bonds began to grow, being close to a decade highs; on the other hand the meeting of the Eurozone’s Ministers of Finance will take place on 14 February which is supposed to discuss the index of reduction of public debt in several countries of the region.

The market believes that the meeting will not add anything new, showing once again reluctance of monetary politicians to adopt unpopular decisions.

In general, the day is going to be quiet in terms of macro-statistics, only at 14.00 Moscow time the data on industrial output in Eurozone in December will be released.

Most likely the pair EUR/USD will be in the range of 1.3470-1.3590 on Monday trading session.

 

[More]