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US recession and problems come by Bernanke and Bush politics only
By: FS Team - 24-01-2008
0votesEUR/USD (1.4622)
European & US sessions forecast levels: 1.4550/1.4690
Trend Sessions: European – Neutral
US – Neutral
Market Focus: 8:30 AM Initial Claims, 10:00 AM Existing Home Sales, 4:00 AM German Ifo Business Expectations Index, German Ifo Business Climate Index, 11:35 PM ECB President Trichet Speaks, 2:30 PM Alan Greenspan Speaks.
Daily Strategy: The key question on the forex market remains the interest rates politic. The traders expect new cut of the key benchmark interest rates on January 30th with new 50 bps. Bernanke will try to help to the US economy after his serious mistakes that lead the world biggest economy into recession. The crisis and recession in USA is based just on mistakes of Bernanke and Bush administration.
At the same time ECB president Trichet stop talking about new increase of Euro Zone interest rates, but remain firm that is not necessary interest rates cut. Most of the investors predict ECB to start with interest rates correction into downward direction at the second half of 2008. For today we expect on the market mix trading with bigger chances for downward correction of EUR/USD.
Next Analysis: Dust settles from Emergency rate cut. Aussie CPI above comfort band
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