EUR/USD (1.5895)
European & US sessions forecast levels: 1.5825/1.6040
Trend Sessions: European: Neutral
US: Neutral/Upward
Market Focus: 8:30 AM CPI, Core CPI, 9:00 AM Net Foreign Purchases,
9:15 AM Capacity Utilization, Industrial Production, 2:00 PM FOMC Minutes, 2:00 AM German
Final CPI, 2:45 AM French
CPI, 5:00 AM EU CPI, EU Core
CPI.
Daily
Strategy: The dollar hit new record low level against the
euro at 1.6038. The main reason for the new dollar weakness is concern for US
banking sector crisis. It is forecasting that as much as 150 banks in United
States will state bankruptcy. The banking sector crisis was caused by the bad
credits that are unable to cover the housing sector slumps. After the temporary
recovery of the dollar based on profit taken we are predicting new records in
the coming days.
Forex Forecasts by FS Team
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