European & US sessions forecast levels: 1.5460/1.5650
Trend Sessions: European: Upward
Market Focus: 8:30 AM Durable Orders, 10:00 AM New Home Sales, 2:15 PM FOMC policy statement, 4:00 AM Italian Retail Sales, 4:30 AM ECB President Trichet Speaks, 5:00 AM EU Industrial New Orders.
Daily Strategy: The one of the key fundamental news the US Consumer Confidence show new drop to lower levels. The situation in the US economy goes to recession. The latest news show that the Federal Reserve will delay with the interest rates raise. The today’s Fed interest rates decision is widely expecting the Fed to hold the interest rates at 2.00% and to signal that is early to raise the interest rates. The other key news for the US economy today is the expecting new worse data for New Home Sales. The crisis in US housing sector is not over and probably is not reached the bottom. The dollar will remain under pressure but although it we do not expect to see strong dollar losing.