By 9:50 Moscow time EUR is at 1.3515 against Wednesday session close level at 1.3508.
According to the data published today Tankan index, which reflects big business leaders’ sentiments, showed 14 points growth. It was the best index since 2008. Thus, as long as the economy is recovering in a good pace in Japan there are all grounds to reduce so called protective currencies – yen and US dollar.
The news about Ireland rating reduction was won back, as well as the positive States statistics, but there is still an uneasy issue with Germany; ICF reduced its growth forecast with the comments that downward risks exceed the recovery and stability rates.
Forex forecast: It seems that until the end of the week the pair EUR/USD will be traded close to the current levels remaining inside the long term downward channel.
More likely the pair will be traded in the range of 1.3460-1.3680.