Markets  |  April 12, 2013 08:30:00

Morning Analysis EUR / USD

Today's trading session could be the busiest for the entire week. A day full of messages, open the euro area industrial production and ongoing Eurogroup and Ecofin meetings. Eurogroup finance ministers traditionally meet before the meeting, Member wider ECOFIN will discuss the major exception of the repayment of loans to Ireland and Portugal. Jeroen Dijsselbloem, who chairs the Eurogroup said he hoped to reach a consensus and believe that Ireland and Portugal will eventually be able to repay their debt by seven years longer. At the meeting should be talking about other troubled economies, such as Slovenia and Cyprus, especially after Cyprus reported an increase in their borrowing costs 23 billion euros of loans € 17.5 billion.

Russian Minister of Finance reduced its estimate of economic growth in the country in 2013 by a third to 2.4 percent. Russia probably expect the worst year since 2009. The government recently released a forecast of 3.6 percent growth, which had to be reduced after the publication of a consumer demand, investment and exports in the first quarter.

Eurodollars yesterday failed to close above the strong Fibonacci resistance levels 38.2 and obviously will try it today. Another failure, however, could mean a return to the saddle bears. The RSI Indicator can see the bear divergence created by the majority of traders perceive as a sign weakening current bullish trend. Fundamental influence on today's motion will have industrial production in the eurozone 11:00 and also retail sales and PPI from the U.S. at 14:30.

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Ranní analýza EUR/USD (14.12.2013)

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