European & US sessions forecast levels: 1.4795/1.4950
Trend Sessions: European â€“ Neutral
US â€“ Neutral/Upward
Market Focus: 8:30 AM Retail Sales, Retail Sales ex-auto, PPI, Core PPI, NY Empire State Index, 10:00 AM Business Inventories, 1:45 AM French CPI, 5:00 AM ZEW Economic Sentiment, German ZEW Economic Sentiment.
Daily Strategy: The pressure against the dollar remains as the traders continue to speculate with the expecting cut of US interest rates. Some traders already predict cut of 75 bps. Such Federal Reserve politic show just one: Serious mistake in the interest rates politic. Ben Bernanke made very stupid mistakes in very bad interest rates politic that will try to avoid recession using strong aggressive cut of the interest rates. The traders continue to see the dollar as loser but when the Fed cut the interest rates the chances for recession will be not so big like the expecting recession these days.