EUR/USD (1.5582)

European & US sessions forecast levels: 1.5540/1.5685

Trend Sessions: European: Neutral/Upward

US: Neutral/Upward

Market Focus: 8:30 AM ADP Employment, GDP-Adv, Chain Deflator-Adv., Employment Cost Index, 9:45 AM Chicago PMI, 2:15 PM FOMC policy statement, 3:55 AM German Unemployment Rate, 4:00 AM EU Unemployment Rate, Italian CPI, EU Consumer Confidence, CPI Flash Estimate, 7:55 AM ECB President Trichet Speaks.

Daily Strategy: Today is very rich day of economic events. It is expecting dynamic market. Today will be release key economic events from the Euro Zone and United States. The most important news is the FOMC policy statement. The latest speculations shows that Fed will make a pause in interest rates cut. The forecasts are by unchanged interest rates to cut with 25 or 50 bps. The Fed is close to the time when will stop with the interest rates cut. But still we are predicting new interest rates cut at least with 25 bps to this moment when Fed will hold the interest rates for longer time.