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Euro/USD: Euro rises on positive expectations
The pair EUR/USD is traded upward on Thursday morning – positive investors’ sentiment is prevailing, allowing the main pair to stay higher than the level of 1,41.
By 9.20 Moscow time the Euro is at 1.4173 against Thursday closing session level of 1.4156.
The pair strengthens on expectations of strong U.S. macro-statistics’ upcoming publication (at 16.30 Moscow time data on payrolls in March and rate of unemployment will be released).
In addition president of the Fed Bank of Minneapolis Narayana Kocherlakota said the day before, press reported, that she considers the federal-funds rate rise by 50 basis points by late 2011 quite acceptable.
Thereby the main reason that puts upside pressure on the pair EUR/USD on Friday is expectations of confirmation that the U.S. economic recovery is stable.
Most likely the pair EUR/USD will not go beyond the range of 1.4100-1.4220 at the trading session on Friday.