EUR/USD (1.4860)

European & US sessions forecast levels: 1.4780/1.4925

Trend Sessions: European – Neutral

US – Neutral

Market Focus: 8:30 AM Non-farm Payrolls, Unemployment Rate, Hourly Earnings, Average Workweek, 10:00 AM Construction Spending, ISM Index, Michigan Sentiment-Rev. 3:55 AM German Manufacturing PMI, 4:00 AM Manufacturing PMI,

Daily Strategy: There are many traders ready to sell at the levels above 1.49 and keep the dollar away by the record high levels against the euro since November 2007. The latest speculations predict in March 2008 new 50 bps interest rates cut. Also today’s focus is over the US jobs market. The forecast is for much better result for new jobs add in the world biggest economy. But as overall the dollar is not on the way to make significant recovery against the euro. For today forecast is trading into neutral direction with high volumes during the morning US session.