EUR/USD (1.2471)
European & US sessions forecast levels: 1.2360/1.2670
Trend Sessions: European: Neutral
US: Neutral
Market Focus: 8:30 AM Initial Claims, Trade Balance, 2:00 PM Treasury
Budget, 2:00 AM German
Prelim GDP, 2:45 AM French
CPI, 4:00 AM ECB
Monthly Bulletin.
Daily
Strategy: The starting recession in the Euro Zone so fast
make the euro weak against the dollar. It will be necessary new interest rates
cut in the Euro Zone for fast exit by the recession. The dollar will continue
to rise against the euro, as at the end of the year the trading level will fall
to 1.18. For today is possible temporary correction up to 1.26 but as overall
the tendency for the dollar gains remain. The US data today will show continue
problems with the US jobs market. The Trade Deficit will fall for a short time
caused by the recession and low oil prices but is expecting to rise in 2009.
Forex Forecasts by FS Team
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