EUR/USD is traded down on second part of Friday on Forex, however there are no serious sales of Euro.
Main traders’ attention is drawn to US statistics: US GDP has grown by 3,2% in fourth quarter of 2010 (growth by 3,5% was forecasted); in third quarter it grew by 2,6%. This is a preliminary info.
Moreover, PCE Core Index (Personal Consumption Expenditures, Excluding Food & Energy), which is observed very closely by US FRS, has grown by 0,4% in October-December, which met market expectations. This index shows inflation risks’ levels.
US dollar got a little bit weaker because of statistics; however balance in the main currency pair remains the same.
In general Euro’s rate in January has grown against the package of 10 traded currencies by 1,5%. As for the February’s prospects, EUR/USD can be corrected to the levels of 1,33-1,35, as it is oversold at the moment.