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EUR/USD: Euro has found a motive to grow
The pair EUR/USD is traded in the black at the Forex currency market on Tuesday morning.
By 9.25 MSK the Euro is at 1.3186 againstyesterday's closing level of 1.3128.
There were a number of reasons for the positive sentiment in the market: first of all Greek Prime Minister gave tounder stand that some progress has been achieved in the course of negotiations between private capital and Greece; secondly, a good piece of news came from the EU summit in Brussels where the launch of ESM Fund has been approved.
Therefore, new fund will be operational from1 July 2012, a year earlier than it has been planned, its volume will amount to500 billion euro and 80 billion euro of equity. At the same time, politiciansdo not rule out a chance that ESM can be expanded in the future.
In general, positive sentiment is coming back in the market.
Most likely, the pair EUR/USD will not gobeyond the range of 1.3120-1.3230 at the trading session on Tuesday.