The dollar losses by Obama visit in China

By Fs Team
16 November 2009 @ 01:31 am EDT

EUR/USD (1.4968)

European & US sessions forecast levels: 1.4625/1.5060

Trend Sessions: European: Neutral/Upward

US: Upward

Market Focus: 8:30 AM Retail Sales, Retail Sales ex-auto, Empire Manufacturing, 10:00 AM Business Inventories, 5:00 AM EU HICP, HICP Core.

Daily Strategy: The dollar started the new business week with lose against the majors include euro. The main reason for the dollar losses is the Obama visit in China. The United States and China negotiation over exchange rates at a meeting of Asia Pacific leaders on Sunday, a move that quashed speculation China may allow some further Yuan appreciation in coordination with Obama's first trip to Beijing. It seems that the dollar losses today will continue as we recommend opening long positions, as buy on dips.

For more forex information, go to www.forex-strategy.com

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