Forex Blog
Blog-FX.Com

The pair EUR/USD is traded with little progress at the Forex currency market on Wednesday morning: yesterday the U.S. Senate approved the increase in the national debts limit for $2.4 trillion in two stages.

By 9.40 Moscow time the Euro is at 1.4206 against yesterday’s closing level of 1.4203.

Thus, the upper limit of the U.S. national debt will be raised by $2.4 trillion in the next few months in two stages- it will relieve tension of the markets in regards to this matter. However, rating agency Moody's has already reported downgrade of the U.S. rating AAA to a “negative” because budget organization demonstrated inconsistency this time, although finally the treat of default has been released.

Statistics on the level of retail sales in Eurozone in July will be made public today; in the afternoon investors will wait for the data on the business activity index ISM in the non-manufacturing sector of the U.S. in July.

Most likely the pair EUR/USD will not go beyond the range of 1.4150-1.4250 at the trading session on Wednesday.

Tags: