EUR/USD (1.5437)
European & US sessions forecast levels: 1.5360/1.5515
Trend Sessions: European: Neutral
US: Neutral/Upward
Market Focus: 8:30 AM Initial Claims, 10:00 AM Pending
Home Sales, 2:00 AM German
Trade Balance, 2:45 AM French Trade Balance, 4:00 AM Italian Industrial Production, 6:00 AM German Industrial Production, 7:45 AM ECB Interest rates decision,
8:30 AM ECB Press Conference.
Daily
Strategy: The most important event today is the European
Central Bank Interest rates decision. It is expecting ECB to hold the interest
rates at 4.25%. 45 minutes after the decision is much more interesting. The
press conference of ECB probably will stop the raising dollar, as Trichet will
focus over the high inflation in the Euro Zone. The other factors cause the
forex movements these days are the low oil price and the mix US economic data.
If Trichet miss to talk about the inflation as main concern for the euro zone
the dollar probably will continue to strength against the euro and could reach
1.52 in the coming week. Otherwise the recovery of the dollar will stop, as the
trading will back at the levels of 1.56.
Forex Forecasts by FS Team
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