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Euro/USD: External background is unfavourable for the USD
The pair EUR/USD is traded upward at the Forex currency market on Tuesday, as investors are still concerned about slowdown in the U.S economic recovery.
By 8.55 Moscow time the Euro is at 1.4605 against yesterday’s closing level of 1.4575.
Market still has doubt regarding sustainability of the U.S. growth and a threat that Federal Reserve will raise standards to the largest Banks of the country, only builds up pressure at the trading floors.
Investors’ attention today will be focused on the retail sales data in Eurozone in April; Federal Reserve chairman Ben Bernanke will give presentation tonight, describing prospects for economic development of the country.
Most likely the pair EUR/USD will not go beyond the range of 1.4520-1.4650 at the trading session on Tuesday.
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