EUR/USD: USD is in anticipation of tomorrow’s support

The pair EUR/USD declines slightly at the Forex currency market on Thursday morning expecting that tomorrow the head of the U.S. Federal Reserve Ben Bernanke will offer hopes to the market for a new package of expansionary measures.

By 9.05 MSK the Euro is at 1.4402 against yesterday’s closing level of 1.4414.

Trading session today will be pending of the outcome of tomorrow’s annual conference in Jackson Hole where the U.S. FR chairman Ben Bernanke shall give his speech. Projections of the investors are based on the similar meeting a year earlier where Bernanke outlined the idea of QE2. Now, it is possible that the monetary politician will give a hint at new measures of quantitative easing. 

This afternoon investors will await the data on the number of unemployment benefit claims for a week in the U.S.

Most likely the pair EUR/USD will not go beyond the range of 1.4350-1.4450 at the trading session on Thursday.

 

 

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