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EUR/USD: Euro gives way to USD in anticipation of statistics tonight
The pair EUR/USD has subsided at the Forex currency market on Thursday morning because investors are waiting for the data on American inflation, suggesting that indicator will be positive and will not create another prerequisite for talk about third round of quantitative easing of FR.
By 9.35 MSK the Euro is at 1.44990 against yesterday’s closing level of 1.4425.
It is assumed that CPI index in the U.S. increased by 0.2% m/m (+3.3% y/y) in July and if this data agrees with the forecast, it will become an indication for the market that American economy does not need QE3.
In addition, technical factors were unfavourable for the Euro: yesterday’s growth slowed down near the significant resistance level above 1.45; the Euro failed to exceed it and went down.
Most likely the pair EUR/USD will not go beyond the range of 1.4350-1.4470 at the trading session on Thursday.