Sandy has passed, EURUSD keeps steady


The euro stays firm against the American dollar today, as markets in USA prepared to open again after Hurricane Sandy. Traders expect market progress s in the Eurozone crisis.

The currency pair EURUSD reached 1.2947 during late Asian trading session; later on the pair stayed firm at the level 1.2956.

The pair is supposed to find support at 1.2885, which is the bottom from Tuesday, and resistance at 1.3022, the peak from October 25.

Euro zone finance ministers are going to have a conference call later in the day to talk over Greece’s progress on meeting austerity targets, but it is not expected a decision on when the country will receive the next tranche of its bailout.

Yesterday economic data showed that the number of unemployed people in Germany rose by 20,000 in October, in comparison with the expectations for an increase of 10,000.

The euro was slightly below against the pound, with EURGBP moving around the level of 0.8054 and made a slight change against the yen, with EURJPY reaching 103.21.

Today, America is expected to provide official data on manufacturing activity in Chicago, as well as a government report on crude oil inventories.

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