Tuesday February 21, 2006 - 06:22:25 GMT
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Tricom Futures and Foreign Exchange -
Forex: Another week, and more USD strength to follow
The dollar edged marginally lower against major currencies in very quiet trade with US markets closed for the Presidents' Day holiday.
The focus remains on how much higher US interest rates are set to rise, with Wednesday's CPI inflation data firmly on the market's radar, along with the minutes to the January meeting of US rate-setters on Tuesday and durable goods orders on Thursday.
However, attention is also likely to turn to the interest rate outlook in the euro zone, with a series of European sentiment indicators this week "expected to underpin the ECB's assumed inclination towards a March rate hike.
In his testimony before the European Parliament economic and monetary affairs committee, ECB president Jean-Claude Trichet did nothing to dampen hopes of a March hike, reiterating that the central bank remains "vigilant" about inflation risks.
Today's Economic Release:
US: FOMC Minutes
Today's Top Trades
Buy USD/CHF around 1.3080, with stops under 1.3030
For more ideas send me an email, [email protected]
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