Forex Analytics from LiteForex of 12.11.10: Euro intends to crash down

The pair EUR/USD declines at the Forex currency market on Friday, going beyond 1,36 under the pressure of a new surge of investors’ concern regarding debt problems in the Eurozone countries, in particular in Spain.

By 10.50 Moscow time the Euro is at 1.3600 against closing session level of 1.3667 yesterday.
Apart from the indicated below problem, pressure on the buyers’ sentiments are also exerted by the news about inflation in China due to which monetary authorities of the country can increase interest rate.

Summit G20 ended in Seoul; however final communiqué did not say anything new: the participating countries will pass over to the currencies rates,
established by the markets and they will refrain from devaluation, thus, excluding mechanics of competitive advantage.
 

The statistical calendar today is eventful; GDP data for QIII will also be published. France and Germany already gave their reports, which demonstrated slight lag from projections Presumably the pair EUR/USD will not go beyond the range of 1.3520-1.3800 at the last trading session of this week.

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