EUR/USD (1.5725)
European & US sessions forecast levels: 1.5630/1.5810
Trend Sessions: European: Neutral
US: Neutral/Upward
Market Focus: 8:30 AM Personal Income, Personal
Spending, PCE Core Inflation,
4:00 AM EU Current Account, 5:00 AM EU Consumer Confidence.
Daily
Strategy: The dollar continues to lose against the euro
after serial of weak data. The latest raise of the oil will push the inflation
worldwide that will cause stagflation in USA. Also the Fed will raise the
interest rates when the economy is poor and inflation jump. For today is
possible temporary recovery of the dollar based on profit taken. The problems
for the US economy will remain at least till the end of 2008. We do not expect
to see strong dollar recovery this year. The trading strategy today is to trade
within the trading range.
Forex Forecasts by FS Team
