FX forecast for Aug. 6

- [EUR/USD] The armistice between the bulls and the bears continues for the third day, determining an unusually narrow corridor for the transactions with the European currency on the international market. The euro trades at unexpectedly high rates, but things could change in both directions after today’s meeting of the European Central Bank (ECB), Financial Brains director, PhD Sveatoslav Mihalache has told Info-Prim Neo. “It is unusual to see such a narrow trade corridor for several days in a row,” Sveatoslav Mihalache said, adding that technically the graphs show that the appreciation of the euro stopped, but the fundamental factors can cause another scenario. One of the main factors that will influence the behavior of the players on the currency market will be not the traditional meeting of the ECB (where the refinance rate is expected to be kept at the same level), but rather the statements that the bank’s administration will make after the assembly. Another event that could influence the currency market is the publication of U.S. macroeconomic indicators today and tomorrow. [EUR/MDL] The rates remain high: 15.98 – 16.03 lei (bid) and 16.13 – 16.18 lei (ask). [USD/MDL] 11.19 – 11.20 (bid) and 11.25 – 11.26 (ask). For further details, visit www.fb.md.