The pair EUR/USD is traded slightly downward at the Forex currency market on Monday morning, consolidating after the rapid rise last week.
By 9.05 Moscow time the Euro is at 1.3976 against closing session level of 1.3987 on Friday.
Trading for the USD is mixed today: on the one hand oil prices went up once again and on the other hand the head of the European Central Bank Trichet stressed in his speech on Friday that strong and reliable dollar is of interest of the whole world. Trichet also said that the increased volatility of the currency market which has been observed lately will have bad aftereffects.
Statistics which is scheduled for release today is unlikely to have a serious impact on the balance of power at the currency market: in the afternoon the data on investors’ confidence index Sentix will be made public and at 18:00 Moscow time index of labour market dynamics will be known.
In general, the situation in the world is neutral this morning.
Most likely the pair EUR/USD will be in the range of 1.3900-1.4020 at the trading session on Monday.
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