Forex Analytics from LiteForex of 02.11.10: Euro consolidated awaiting the U.S. Federal Reserve decisions
The pair EUR/USD consolidates at the Forex market on Tuesday morning due to the news from Australia where the interest rate has been increased.
By 10.05 Moscow time the Euro is at 1.3936 against closing session level of 1.3896 yesterday.
RBA unexpectedly raised interest rate to 4.75% per annum (25 basis points) on Tuesday noting that the economic growth can trigger inflationary pressure.
Investors nevertheless are concerned again by the possible results of the upcoming meeting of the U.S. Federal Reserve which will start today. Traders await the regulator to announce increase in redemption of government bonds from the market as an incentive of the national economy.
Due to this activity at the trading floors will be low in the next two days.
Most likely the pair EUR/USD will be in the range of 1.3870-1.4000 on Tuesday trading session.
