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Strong speculations will move the dollar up to 1.4950 soon
By: FS Team - 13-12-2007
0votesEUR/USD (1.4714)
European & US sessions forecast levels: 1.4640/1.4750
Trend Sessions: European – Neutral/Downward
US – Neutral/Upward
Market Focus: 8:30 AM Retail Sales, Retail Sales ex-auto, PPI, Core PPI, Initial Claims, 10:00 AM Business Inventories, 2:45 AM French CPI, French Non-farm Employment, 4:00 AM ECB Monthly Bulletin, 5:00 AM Labor Cost Index.
Daily Strategy: The dollar is under pressure in spite the positive Fed action with 25 bps interest rates cut. The speculations just after the Fed decision is for expectations for new interest rates cut in January 2008. The European economy start to signal problems but the speculations will move against the fundamental data and the dollar will test 1.4950 in very short time. Again the speculations will move the market not the fundamental data.
Next Analysis: Central Banks announce joint venture to ease short term funding pressure. USD reverses it rally.
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