The pair EUR/USD is traded close to the local lows at the Forex currency market on Monday morning, continuing movement in the downward channel.
By 10.40 Moscow time the Euro is at 1.2886 against closing session level of 1.2906 on Friday.
The situations in Eurozone and the USA are opposite now like black and white. American authorities reported about decrease of the unemployment rate and increase of the jobs along with the positive indications in the economy, while employment rate in Eurozone remains unchanged and economists’ forecast are gloomy. Thus, on Friday Swiss National Bank stopped accepting Portuguese government bonds as collateral for repo transactions, the same as they had done with the Irish bonds earlier. In addition the head of the Irish Central Bank Mr. Honohan stated that his country has a lot of debts both public and private, therefore wait and see policy of the market in regard to Ireland is not random.
Honohan also stressed that assistance from European regulators will certainly give Ireland a temporary handicap to solve its internal problems; however it will not help to resolve all critical problems.
Sales of the Euro accelerated after this statement as investors have fewer illusions regarding stability of the Eurozone.
Publication of the important macro-statistics on the U.S and Eurozone is not scheduled for today, therefore traders will guided by the external background.
Most likely the pair EUR/USD will be in the range of 1.2980-1.2820 on Monday trading session.
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