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The dollar is under strong pressure after Fed decision

31-01-2008 - FS Team  |   General Overview
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EUR/USD (1.4901)

European & US sessions forecast levels: 1.4805/1.4960

Trend Sessions: European – Neutral/Upward

US – Neutral

Market Focus: 8:30 AM Employment Cost Index, Personal Income, Personal Spending, Core PCE Inflation, Initial Claims, 9:45 AM Chicago PMI, 2:00 AM German Retail Sales, 3:55 AM German Unemployment Rate, 5:00 AM Unemployment Rate, EU Consumer Confidence and EU CPI.  

Daily Strategy: The Fed cut the key benchmark interest rates with 50 bps to 3.00% as this decision was widely expecting. After that the dollar lose over 100 pips against the euro. The trading is close to the record high levels against the euro since November 2007. Today is very rich day of economic events in the both sides of the Atlantic. It is expecting very dynamic day with high volumes. If the dollar breaks the record levels since November 2007 this will be collapse for the markets and the dollar.





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