15, April 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

On Friday, April 12, the mood on the Forex market was a little spoiled as the result the euro stepped back from its local maximums.

If euro falls the interest in the U.S. currency on the contrary grows. We believe that the recent grows is supported by the latest protocols of FOMC. Thus, experts saw more than a hint at the fact that the program of the Fed quantitative easing may be safely cut in the current calendar year. The reason for such confident statements has been a rapid improvement in the labor market and the overall economic situation of the U.S. economy. If this happens the Fed could cut nearly half of its stimulus programs which of course will provoke a sharp rise of the U.S. currency.

Another hit to the euro came from Cyprus. As it became known Cyprus addressed to the European Union for more help which is not, however, imply additional funds.