EUR/USD (1.4165)
European & US sessions forecast levels: 1.4045/1.4590
Trend Sessions: European: Neutral
US: Neutral
Market Focus: 8:30 AM Housing Starts, Building Permits, 9:15 AM Industrial Production, Capacity Utilization.
Daily Strategy: Europe and United States problems remain to cause weakness of the both currencies. The debt concerns in the euro zone in countries like Greece and Portugal is the major factor for the euro weakness. The dollar is under the pressure cause by the economic growth project and the widen trade deficit. The U.S. economic growth project is cut from 3.3% to 2.8% for 2011. In Brussels the European financial ministers discuss the problem with the debt crisis in Greece and Portugal as the results by the meeting are expecting today. FS Team expects the news to help to the euro to recover against the dollar today.