Forex analytics of LiteForex of 29.10.2010: investors sell EUR again avoiding risks

Today in the currency market (forex) the EUR / USD pair is decreasing against the background of investors avoiding risks after the publication of weak statistics for Asia and a decline in the Asian sites.

By 9.50 MSK EUR costs 1.3880 against the yesterday’s market close level of 1.3930.

This morning it has become known that the process of deflation in Japanese economy continues - the base consumer price index fell by 1.1% y/y exceeding previous decline in August.

A decline in business confidence has been noted in South Korea as well as reduction of industrial production levels which was another factor of pressure on the risks.

There will be a lot of statistics today. In the afternoon there will be statistics on Eurozone and its particular countries; in the evening there will be publication of the key indicator of the week and the preliminary level of the U.S. GDP for the third quarter that is why the volatility in the markets can be high.

Most likely the EUR / USD today will bid in the range of 1.3780-1.3980.

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