The pair EUR/USD is traded slightly upward at the Forex currency market on Friday amid strong statistics on the Chinese economy. However, the currency has not gone beyond the narrow range for four days already.
By 10.00 Moscow time the Euro is at 1.3260 against the closing session level of 1.3238 yesterday.
The Euro has subsided by 1.2 % in pairing with the USD over a week; and by 9.3% since the beginning of the year against the basket of 10 currencies.
Negative factor for the Euro is reduction indicated by the Rating Agency Fitch of the ratings in Ireland: long term credit rating to BBB+, forecast is “stable” and short term rating PDR of foreign currency is up to F2.
However fears regarding Ireland in general have been fully incorporated in the current prices of the Euro and the pressure on the currency will intensify if new traits will emerge in the existing pattern.
The day is going to be eventful in terms of statistics, the same as yesterday. The U.S. statistics tonight will be of interest.
Most likely the pair EUR/USD will be in the range of 1.3190-1.3390 on Friday trading session.
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