The pair EUR/USD is traded slightly downward at the Forex currency market on Thursday morning, continuing rollback which started yesterday.
By 9.50 Moscow time the Euro is at 1.3798 against closing session level of 1.3809 yesterday.
The Euro subsides slightly amid aggravation of the situation in Egypt where shooting started on Wednesday and in advance of the today’s meeting of the European Central Bank and publication of the data on the U.S. labor market tonight.
Nevertheless it is worth noting that sales volumes are not big which indicates strength of the European currency.
The meeting of the ECB today should not bring any surprises, the rate will remain at the level of 1% and Trichet will make a statement about inflationary levels.
In general the day is going to be interesting, level of volatility, however, can be above average.
Most likely the pair EUR/USD will be in the range of 1.3720-1.3840 on Thursday trading session.