FX forecast for Apr. 16

- [EUR/USD:] Today, at the end of the working week, the closure of the market could give us a clue as to what path the euro will go further, Financial Brains director PhD Sveatoslav Mihalache has told Info-Prim Neo. According to him, if the market closes under $1.35, the euro will continue to follow the downward trend, especially since “the clouds over Athens haven’t dissipated yet”, commented Mihalache. However the euro is unlikely to drop below $1.30. Currently the euro trades at $1.3540. The recommendation to sell at $1.3690 remains valid today as well. [USD/MDL:] At ask rates of 12.65 lei for the dollar and 17.20 lei for the euro, there was virtually no demand yesterday, which means that the population doesn’t react so acute to market fluctuations anymore, reactions which had triggered real avalanches in the past. Until the end of the month the dollar will trade on the interbank market within 12.50 – 12.60 lei. It is possible that the dollar will depreciate slightly against the leu in May through June. Rates predicted for today: 12.53 – 12.56 lei (bid); 12.60 – 12.65 lei (ask). [EUR/MDL:] Because yesterday the currency exchange facilities bought euro at 17.05 lei, today they won’t afford ask rates below 17.08 lei. Bid rates will range from 16.90 to 16.95 lei. For further details visit www.fb.md or www.financialbrains.eu