Euro tries to rise above

Single European currency does not attempt to recover lost earlier position, given the slight improvement in sentiment in stock markets and the reduction of accumulated short positions in the euro in anticipation of the publication of the report ZEW, and currently holds about a pair of fresh session highs. Dealers, however, note that the upward movement has continued to meet rebuffed by Ofer of $ 1.2950/65, which have impeded previous attempts to increase the morning and, while continuing to exclude no recovery, they doubt that such would be significant. They tend to explain the positive dynamics of quotations of shares at the auction on Monday the reduction of speculative positions accounts after yesterday's violent fall, and note that a positive corporate records of the United States do not cause noticeable optimism in the market, which seems to already have taken into account such a scenario in prices. Dealers noted that in current circumstances, investors may not be so receptive to the positive news of economic statistics, given the growing skepticism that the strengthening of optimism about the future prospects will be the actual proof, and they fear that stronger ZEW data may not find a response in the market. Breakthrough above $ 1.2965 may support a further recovery to $ 1.2990 and $ 1.3020 and possibly higher, but a pair of long-term prospects are still looking negative. Little reason to improve the dynamics of euro / dollar has not yet been observed, and UniCredit currency strategists warn that the loss of support around $ 1.29 would signal to the mixing of trades in the area of $ 1.28 / $ 1.27.