EUR/USD (1.5451)

European & US sessions forecast levels: 1.5365/1.5570

Trend Sessions: European: Neutral

US: Neutral/Upward

Market Focus: 8:30 AM CPI, Core CPI, 2:40 AM French CPI, 3:00 AM ECOFIN Meeting, 5:00 AM EU Industrial Production.

Daily Strategy: The dollar is mix this week. After some jump movements the dollar is close to the levels between 1.54 and 1.55. There are together optimism and pessimism for the US economy. Therefore we see on the market movements into both directions. There are not clear signals for one direction. The dollar should recovery to the levels below 1.54 today. United States inflation report is the most important news today. If the inflation is high the Fed will stop with the interest rates. It is possible even to raise the interest rates at the end of 2008. For today we recommend trading within the trading range.