NEWS / Foreign Exchange

Speculation for serial of negative news for the dollar

After the Eastern Monday the trading start with new power on the firstbusiness day for the whole world this week. The dollar fell sharply against theeuro and in the coming hours will test the current high at 1.3440. Thespeculations for worse US Trade Balance data and tension with China trade pushagain the dollar to the wall. There is no space to move and the dollar willstart to break new resistance. The trader??™s bets that the European economiccontinue to grow and ECB will hike the interest rates again. On the other sidestill the trades are concern that Fed should cut the interest rates. Ourforecast is that the dollar should reach the levels of 1.3510 this week.