The euro-dollar markets were notably influenced by geopolitical development on Thursday. Terrorist attacks in Turkey disturbed FX markets and after the information that even White House was evacuated the euro reached the level of 1.1969 against the dollar. Later after a quiet pause and Mr.Schroeder's words that both the U.S and Europe would benefit from a green back's strengthening the American currency reached levels under the 1.19.
We do not expect any fundamental data today; the main impulse should come from geopolitical events. The rate EUR/USD should stay between 1.1850 and 1.1950 on Friday. It was at about 1.1910 in the morning.
CSOB, Investment Research