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EUR/USD: Euro has found a new cause for optimism
The pair EUR/USD is traded upward at the Forex currency market on Wednesday morning.
By 9.55 Moscow time the Euro is at 1.3178 against yesterday's closing level of 1.3120.
The ground for buying major pair was declaration from China about will ingness to support Europe by participating in buying sovereign bonds through the channels of European Central bank or viavarious subsidiary funds.
Market's reaction to this news was very optimistic, despite the fact that it has not been the first promise from China while real steps have not been made
Investors put aside Greek issues for a while, Euro group has postponed today's meeting devoted to the second aidpackage to Athens in order to see actual outcome of Greek promises.
Therefore, external background is very eventful today.
Most likely, the pair EUR/USD will not gobeyond in the range of 1.3100-1.3250 at the trading session on Wednesday.