European & US sessions forecast levels: 1.2630/1.2905
Trend Sessions: European: Neutral/Downward
Market Focus: 8:30 AM Average Workweek, Hourly Earnings, Non-farm Payrolls, Unemployment rate, 2:00 PM Consumer Credit.
Daily Strategy: The dollar remains strong as continue to take advantage against the euro after the European Central Bank decision to keep the interest rates unchanged. On the ECB press conference the bank signal that is expecting further rate cut. Trichet is the man who bet for the inflation and high interest rates. The Euro Zone interest rates are the highest from USA, Japan, Canada, UK and Switzerland. Today’s trader’s focus comes to the US jobs report at 8:30 AM. It is expecting rising of the unemployment rate and jobs cut for January above 500K. It is expecting new strong jump in the US unemployment. The dollar will continue with the recovery as we can see levels close to 1.26 today. The trading strategy today is opening short positions.