Us Dollar,still Struggling Against Euro
The dollar remains weak against the euro and slowly continues to the record levels above 1.60. After very long time waiting for European Central Bank interest rates raise finally tomorrow ECB will hike the interest rates. It is widely expecting ECB to raise the interest rates with 25 bps and to signal that is necessary new interest rates rise. The ECB will raise the interest rates due too the high inflation in the Euro Zone and probably will be necessary new interest rates rise. For today we recommend opening long positions, as buy on dips
The new business week start in flat trading. On Friday the euro/dollar hit 3-weeks high as Oil weights. The dollar will remain under pressure today due too the situation on the energy market where the oil is ready to set new record. Due too the worse reports by the prior week the chances the Federal Reserve to raise the interest rates is minimal, while European Central Bank signal that on July will raise the interest rates with 25 bps. For today the trading strategy is to trade in short trading range.
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07-02-2008, 04:01 AM
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