EUR/USD (1.2643)
European & US sessions forecast levels: 1.2390/1.2815
Trend Sessions: European: Neutral/Upward
US: Neutral
Market Focus: 10:00 AM Existing Home Sales, 4:00 AM IFO
Business Climate, IFO Current Conditions, IFO Expectations, Current account, 5:00 AM EU Ind. new orders.
Daily
Strategy: The dollar starts the new business week with loses against the euro
in Asian session. The latest speculations
show that the $700 billion injection would be not enough to recovery the
markets. It will be necessary another injection of at least $300 billions. The
next bank that probably will go to nationalization is Citigroup with loses of
more than $300 billions. Citigroup also will
get $20 billion cash infusion from the Treasury Department in the deeper of the
bank crisis. The US housing sector crisis start in August 2007 as it was the
first serious crisis cause recession. The US housing sector continues to fall
as is expecting new worse results today for existing home sales.
Forex Forecasts by FS Team
|
