European & US sessions forecast levels: 1.5365/1.5515
Trend Sessions: European: Neutral
Market Focus: 8:30 AM CPI, Core CPI, 10:00 AM Michigan Sentiment-Prel, 2:00 AM German CPI, 5:00 AM Labor Cost Index, Employment Change.
Daily Strategy: The dollar consolidates at the current levels above 1.54 against the euro. In spite the positive data for US Retail Sales yesterday the dollar not succeed to break below the key support level at 1.5365. The trading will remain flat in neutral trading. The most important news for the traders remain the interest rates politic of Federal Reserve and European Central Bank. The inflation report today is very important that will signal what will do the Fed in the coming months. If the inflation raises the Fed have to hike the interest rates.