European & US sessions forecast levels: 1.4505/1.4775
Trend Sessions: European: Neutral/Upward
Market Focus: 8:30 AM Building Permits, Housing Starts, CPI, Core CPI, 2:15 PM FOMC Interest rates decision, 3:30 AM Germany Flash Services PMI, Flash Manufacture PMI, 4:00 AM EU Flash Services PMI.
Daily Strategy: The key event today that move the forex markets are the expectation by the Fed interest rates decision. It is widely expecting the Federal Reserve to leave the interest rates unchanged at 0.25%. But the traders expect fresh signals that the recession end as Fed is ready to hike interest rates in 2010. The other key events are the housing sector reports and the inflation report. The inflation probably raises that is a signal for interest rates raise in a short time.