The pair EUR/USD is traded downward at the Forex currency market in the middle of the week; the USD goes up in price due to the rollback of oil. In addition the parliament of Ireland has adopted budget for 2011, cutting down costs by 6 billion euros.
By 9.50 Moscow time the Euro is at 1.3213 against closing session level of 1.3261 yesterday.
Thus, Ireland has pruned the budget for the next year, reducing costs by 6 billion euros, and reduction will affect all spheres. The next step for the country in the path of financial stability is the approval of the budget by the authorities and after that the country will be able to receive material aid from EU and ICF.
A lot of statistics is going to be published today on Eurozone countries; however there is a possibility that investors will neglect this statistics. The U.S. macro- economic calendar is almost empty again.
Most likely the pair EUR/USD will not go beyond the range of 1.3150-1.3390 in the trading session of the middle of the week.