Trichet follow Bernanke as support the dollar

By Fs Team
18 November 2009 @ 01:37 am EDT

EUR/USD (1.4886)

European & US sessions forecast levels: 1.4625/1.5060

Trend Sessions: European: Neutral/Downward

US: Neutral

Market Focus: 8:30 AM Housing Starts, Building Permits, CPI, Core CPI, 4:00 AM EU Current Account.

Daily Strategy: The dollar made slowly recovery against the euro after the Bernanke speech. The Fed probably will leave the interest rates at the current level for longer time that make the dollar not attractive currency. But the weak dollar is positive for the United States export that is necessary to help to overall economy. European Central Bank President Jean-Claude Trichet support Bernanke comments that the strong dollar is in interest not only in United States but also of the entire international community.

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

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