The Euro lost against the dollar yesterday. It was influenced by negative
statistical data in Europe. However, the most important depreciation
appeared in the afternoon when American data were released. The rate EUR/USD
opened at 1.1331 in Europe and the euro lost to 1.1252 when it closed. In
American trading the rate began at 1.1330 and reached 1.1277 when Chicago
PMI was released. It closed at 1.1231. This morning the rate opened at
1.1240 and should stay between 1.1150 and 1.1250. The movement should be
influenced by other American data released today; it is not certain that
yesterday's optimism survives.
CSOB Investment Research