FX forecast for July 2

The United States will take a small vacation ahead of its Independence Day on July 4 – Friday has been declared a day off, while on Thursday the working hours of the US institutions, including financial, will be shorter; this will affect the liquidity of the market, which will become “thin” in the investors’ slang, Financial Brains director PhD Sveatoslav Mihalache has told Info-Prim Neo. In a thin market, according to Mihalache, when the number of buyers and sellers is limited, trading may be a hazard. In the old world, the attention of the forex traders will be focused on the traditional meeting of the European Central Bank (ECB). Although some representatives of the ECB leadership have pleaded for a lower base rate, it is unlikely this will happen at the upcoming meeting. However, if the rate is lowered, the European common currency will be affected, says Mihalache. [EUR/USD] Yesterday the pair EUR/USD hit a weekly record high, touching the $1.4200 mark. Today the euro is trading at around $1.41, and the tendency is downward. [EUR/MDL] At the Moldovan currency exchange facilities the euro will cost: 15.75 – 15.80 lei (bid) and 15.90 – 15.95 (ask). [USD/MDL] The US dollar has found equilibrium on the domestic market near the 11.25 lei mark. The rates for today will be: 11.17 – 11.20 lei (bid) and 11.26 – 11.30 lei (ask). For further details visit www.fb.md