EUR/USD (1.2867)
European & US sessions forecast levels: 1.2615/1.3000
Trend Sessions: European: Neutral/Upward
US: Neutral/Downward
Market Focus: 8:30 AM Chain Deflator-Prel., GDP-Prel, 10:00 AM Consumer Confidence, 2:00
AM Germany Gross Domestic Product, Germany Capital
Investment, Germany Private Consumption, Germany Import and Exports, 2:10 AM German
GfK Consumer Confidence, 2:45 AM French Business Confidence
Indicator, French Production Outlook Indicator, French Housing Starts, French
Housing Permits, 3:30 AM Italy Consumer Confidence Index, 4:00 AM Italy
Trade Balance.
Daily
Strategy: The recession in USA deeper after the guarantee
of $306 billion fund to Citigroup. Many companies suffer as the prices fall.
The problems with the $700 billion injection would not help to the suffering
economy. The dollar today will be trading in neutral direction. It is expecting
slowly movement above 1.29 but is also expecting correction down below 1.2750.
Forex Forecasts by FS Team
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