Euro hits new record high this year

-- [EUR/USD:] The European common currency Tuesday reached a new record high for this year on the international currency market - $1.4530. This fact will influence the exchange rates posted by the Moldovan currency exchange facilities, Financial Brains director, PhD Sveatoslav Mihalache has told Info-Prim Neo. The euro gained not due to certain macroeconomic indicators, but to technical indicators and certain psychological factors as the euro’s appreciation was determined by a series of important changes on the currency market that impacted the Japanese yen, the Australian dollar, the Turkish lira, the pound, the New Zealand dollar and other currencies as well. After the euro hit $1.44 on August 4, few believed it could appreciate further as the technical indicators showed no forces that could push the euro up and it seemed overbought and even slid to $1.40. Mihalache is yet certain that the euro will fall to $1.4270 or even lower. Financial Brains recommends refraining from purchasing euros for a day or two until things clam down. Among the macroeconomic indicators that could influence today the international currency market are the orders placed in Germany’s processing industry that will be published at 9:00, Chisinau time. [EUR/MDL:] The currency exchange facilities in Moldova will buy the euro for 16.07 – 16.12 lei and sell it for 16.25 – 16.30 lei. [USD/MDL:] The rates for the dollar remained unchanged: 11.15 – 11.17 lei (ask) and 11.24 – 11.27 (bid). For further details, visit www.fb.md.

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