2011-12-08 08:30:00
The pair EUR/USD is traded in the narrow range on Thursday morning awaiting important developments in Eurozone.

By 9.10 Moscow time the Euro is at 1.3406 against yesterday’s closing level of 1.3401.

A two-day summit of the European Union will start today; it is expected that Germany and France will propose to Eurozone new mechanisms for resolution of the European debt problems in the region. In addition a meeting of the European Central Bank will be held on Thursday where interest rate can be lowered by 25 basis points to 1%.

Due to expectations of a large number of important news the Euro/Dollar will be traded in the narrow range which, however does not rule out decline of the Euro if the rates will actually be lowered.

Tonight investors will be interested in statistics on the U.S. labour market.

Most likely the pair EUR/USD will not go beyond the range of 1.3350-1.3450 at the trading session on Thursday.