European & US sessions forecast levels: 1.3265/1.3590
Trend Sessions: European: Neutral/Downward
Market Focus: 8:30 AM Continuing Claims, Initial Claims, 5:00 AM EU Retail Trade, 6:00 AM Germany Industrial Production, 7:45 AM ECB interest rate announcement, 8:30 AM ECB press conference following interest rate announcement.
Daily Strategy: In spite the Fed Chairmen Ben Bernanke comments that the key benchmark interest rates will remain at the current level of 0.25% for longer time the dollar gain against the euro. It is necessary signals for recovery of the U.S. economy to push the interest rate. The dollar is close to the key support at 1.3265 as the chances for break below rises. The key event today is ECB interest rates decision and the following press conferences. It is expecting the ECB to leave the interest rates unchanged.