EUR/USD (1.5416)

European & US sessions forecast levels: 1.5320/1.5505

Trend Sessions: European: Neutral/Upward

US: Neutral

Market Focus: 8:30 AM Trade Balance, 2:45 AM French Industrial Production.

Daily Strategy: The dollar is again under pressure. The Fed confirm that the last interest rates cut is last and Fed will hold the key benchmark interest rates at 2.00% longer time. The speculations show that due too the high inflation Fed will start to raise the interest rates at the end of 2008. At the same time the day after day record of oil prices set new pressure over the weak US economy. There are not measurements to stop the raising oil prices, as this raise will cause serious problems to all economies with high inflation. The dollar will remain under pressure today.