Forex Blog
Blog-FX.Com

The pair EUR/USD is traded upward at the Forex currency market on Friday morning after yesterday’s decline.

By 7.30 Moscow time the Euro is at 1.4535 against yesterday’s closing level of 1.4508.
The main event of this week was the meeting of the European Central bank yesterday, which went quite smoothly: the head of the ECB, Trichet has reminded in his speech of “hyper  alertness and noted that it could mean the opportunity of the rise in the rate next month; however the Bank never makes decisions in advance. Current rate of monetary policy remains accommodative and inflation in the region goes up due to the rise in prices for raw materials and energy resources.

The Euro rose straight after the conference; however the rise proved to be short-lived. The rate was kept at the level of 1.25% per annum.

The U.S. data is scheduled for the release this afternoon; however it is unlikely to exceed the effect of the external background at the moment.

Most likely the pair EUR/USD will not go beyond the range of 1.4500-1.4590 at the trading session on Friday.
 
 

Tags: