ECB to cut the interest rates to 1.5% today

Forex Daily Strategy by FS Team

 @ibtimes
on March 05 2009 1:34 AM

EUR/USD (1.2588)

European & US sessions forecast levels: 1.2360/1.2665

Trend Sessions: European: Neutral/Downward

US: Neutral/Downward

Market Focus: 8:30 AM Productivity-Rev, Unit Labor Costs, Initial Claims, 10:00 AM Factory Orders, 2:00 AM Germany Retail Sales, 2:50 AM France PPI, 5:00 AM EU GDP 1st Est, 7:45 AM ECB Interest Rate Announcement.

Daily Strategy: There are a lot of key economic events today in Europe and USA. The most important event is the expecting European Central Bank interest rates decision. It is expecting ECB to cut the interest rates to 1.5% from the current level of 2.00%. The next key event is the ECB press conference schedule for 8:30 AM. The dollar may remain strong today and continue take advantage against the euro.

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