EUR/USD (1.5659)

European & US sessions forecast levels: 1.5555/1.5690

Trend Sessions: European: Neutral/Downward

US: Neutral

Market Focus: 2:00 PM FOMC Minutes, 4:00 AM German Ifo Business Climate Index, German Ifo Business Expectations Index,

Daily Strategy: The dollar is again under pressure after speculations that ECB will raise the key interest rates due too the inflation while the Fed will hold or even cut the interest rates. Fed probably will cut the key benchmark interest rates with 25 to 50 bps to stimulate the economy. At the same time positive news for European economy support the euro. For today the key fundamental news comes from Germany. It is possible to see surprise in Germany Ifo Business Climate and Expectations Index. The forecast is for recovery of the dollar but the Germany data can stop the expecting dollar recovery.