Trichet follow Bernanke as support the dollar

 @ibtimes
on November 18 2009 1:37 AM

EUR/USD (1.4886)European & US sessions forecast levels: 1.4625/1.5060Trend Sessions: European: Neutral/DownwardUS: NeutralMarket Focus: 8:30 AM Housing Starts, Building Permits, CPI, Core CPI, 4:00 AM EU Current Account.Daily Strategy: The dollar made slowly recovery against the euro after the Bernanke speech. The Fed probably will leave the interest rates at the current level for longer time that make the dollar not attractive currency. But the weak dollar is positive for the United States export that is necessary to help to overall economy. European Central Bank President Jean-Claude Trichet support Bernanke comments that the strong dollar is in interest not only in United States but also of the entire international community.

Share this article

More News from IBT MEDIA