FX forecast for Mar. 15

[USD/MDL:] The dollar decreased steeply to 12.50 lei, the lower limit of the trading corridor predicted earlier, Financial Brains director PhD Sveatoslav Mihalache has told Info-Prim Neo. Over the weekend the dollar traded at around 12.45 lei and 12.56 lei, bid and ask prices, respectively. It seems that the leu appreciated too much against the dollar, and consequently against the leu, bearing in mind that there isn’t any improvement of the macroeconomic indicators yet to sustain that appreciation. “Often psychological factors have a greater influence on the market than the economic factors”, commented Sveatoslav Mihalache. The same indicators show that the rates have no room to drop further. It is advised to refrain from selling dollars. The rates predicted for today are: 12.43-47 lei (bid) and 12.56-59 (ask). [EUR/USD:] The euro has been trading within a diapason restricted between $1.3840 and $1.3480 and there are no signs that it will leave it in the foreseeable future. Currently the euro trades at $1.3750, and the technical indicators point to a possible drop to the $1.3550 mark in the course of the day. Greece’s budget problems seem to have moved to the back burner and the traders are now curious to find out which European country will be the first to raise its base rate. [EUR/MDL:] 17.03 – 17.07 lei (bid) and 17.20 – 17.25 lei (ask). For further details visit www.fb.md or www.financialbrains.eu