European & US sessions forecast levels: 1.4320/1.4700
Trend Sessions: European: Neutral/Upward
Market Focus: 8:30 AM Export Prices ex-ag, Import Prices ex-oil, 9:55 AM Michigan Sentiment-Prel, 10:00 AM Wholesale Inventories, 2:00 PM Treasury Budget, 2:00 AM Germany Wholesale price index.
Daily Strategy: The dollar losses against the major currencies continue. The dollar is on the way to reach our forecast of 1.47. There is a chance for break of this level even. The rising stock market pushes the dollar to new record low levels. The trading strategy remains to open long positions, as buy on dips corrections. The rising Gold price also send signal to the traders to forget about the dollar stability and back to the Gold or stock markets.