The first business day for 2009 started with bad expectations for the Euro Zone. The traders predict that the problems in Europe will deeper in 2009. The speculations show that the European Central Bank will cut the key interest rates from the current level of 2.5%. The bank will cut the interest rates on the next ECB meeting as till April the key interest rates will lower to levels of 1.00% - 1.25% said George Marshal forex analyzer in World-Signals.com. There's a lot more weakness in Europe ahead, said Sean Callow, a senior currency strategist at Westpac Banking Corp. in Sydney. He predicts ECB to cut interest rates to 1.00% in March. The cut of ECB interest rates will cause weakness of the Euro. The forecasts show that the Euro will fall to levels below 1.20 in the first half of 2009. We can see levels of EURUSD down to 1.10 in the first half of 2009 said George Marshal. From 1st of January in the Euro Zone come in Slovakia. This is a better for Slovakia and for the Euro Zone said George Marshal in spite the difficulties of the Euro.
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