EUR/USD (1.2846)
European & US sessions forecast levels: 1.2525/1.3030
Trend Sessions: European: Neutral/Downward
US: Neutral
Market Focus: 8:30 AM Initial Claims,
Productivity-Prel, 6:00 AM German
Factory Orders, 7:45 AM ECB
Interest rates decision, 8:30 AM ECB Press Conference.
Daily
Strategy: After US vote for Obama the markets back to the reality. The
recession is worldwide and continues to spread. The European Central Bank will
vote today to cut the key interest rates with 50 bps. It is not excepted cut
with 75 bps. The Euro is weak today in expectation for ECB decision. But at the
same time the Fed probably will needed to cut the interest rates again below
1.00%. All these factors move the dollar with not clear direction.
Forex Forecasts by FS Team
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