Euro before Portuguese auction less than 1.38 dollars

The euro is consistently weak on the Wednesday morning at the beginning of the European stamped business.

Traders speak of a waiting business before the auction informed in the morning of Portuguese state loans. Already on Tuesday in late trade the communal currency had liked under the brand of 1.38 USD.

“The problems in the euro-periphery move again in the centre of the interest of the market participants”, finds out a trader. Accordingly high attention might be given the Portuguese auction. Portugal wants to sell up to 1.5 billion EUR in 6 and ten-year-old papers. A successful auction might strengthen the euro, believes another trader.

In the afternoon economic data from the USA could provide for other impulses. Thus the weekly first applications for unemployment assistance are published. From Dow Jones Newswires questioned economists expect a decline by from 7,000 to 450,000. Last week the number of the first applications had risen by 20,000. Besides, stand in the export price of October as well as the balance of trade for the September on the agenda.

From technical view the euro with the slide less than 1.38 USD has fell short of the upward trend existing since October, believe the analysts of the state bank Hessian Thuringia (Helaba). Do not succeed the reentry in the upward trend at short notice, the analysts see Abwärtspotenzial is 1.3696 USD. Opposition is to be put out with 1.4010 USD and 1.4075 USD.

The fine ounce gold costs on the Wednesday morning 1,396.95 USD. To the Nachmittag-Fixing in London on Tuesday it had been ascertained with 1,421.00 USD.

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