The pair EUR/USD is traded slightly downward at the Forex currency market on Friday after the rise yesterday.
By 9.45 Moscow time the Euro is at 1.3959 against closing session level of 1.3967 on Thursday.
Yesterday, the head of the European Central Bank Trichet said that he did not rule out that the rate can be increased in April amid growing inflationary pressure. However it should not be taken as the actual beginning of the monetary policy tightening. In fact, monetary politician has confirmed markets’ belief that the rate will be raised shortly. This became the main catalyst for the rise of the Euro above 1.39.
The rate of the European Central Bank was kept at the level of 1% this time.
The main macro-statistics block will be released in the afternoon on Friday and will be related with the U.S.: the U.S. unemployment rate in February (expected growth is to 9.1% against the previous 9%) will be released tonight, as well as the data on a number of jobs for past month (growth by 196 thousand against the rise by 36 thousand in January.
In general, positions of the Euro are quite strong at the moment.
Most likely the pair EUR/USD will not go beyond the range of 1.3850-1.3990 at the trading session on Friday
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