[B]DailyFX.com Chief Strategist
Picks: Short EUR/USD[/B]
New York, August 12, 2008[/B]
[B]DailyFX.com (www.dailyfx.com) Chief Strategist Antonio Sousa :
My picks: Short EUR/USD
Expertise: Fundamentals, Volatility and Sentiment
Average Time Frame of Trades: 1 day - 3 months[/B]
The U.S. dollar has been very strong over the past month and I expect this trend to continue going forward. To some extent, the U.S. dollar has been helped a significant shift of interest rate expectations in favor of rate hikes by the Fed. In fact, we expect the Fed to increase rates by 144 bps in the next 18 months. In addition, the U.S. runs a current account deficit of nearly 6% of the GDP and the recent sell off in commodities, particularly in oil, should alleviate some downward pressure in the U.S. economy. On the other hand, ECB’s Jean Claude Trichet has no bias going into the next meeting and he believes recent economic data points toward a weakening of real GDP growth. Looking ahead, I expect the EUR/USD to trade below 1.45 in 3 months and 1.40 in 6 months.
[B]Find DailyFX.com analyst’s picks here:http://www.dailyfx.com/analyst_picks/[/B]
[B]DailyFX.com Analyst Give
Free Trading Ideas[/B]
DailyFX.com analysts (www.dailyfx.com) now offer traders a roundtable discussion of their favored currency picks on a daily basis. Published at 9:30 (EST), the portal’s top researchers share their trade for the day and tell the online community what to look for when positioning a trade.
Each business day places a different currency under scrutiny, allowing traders to see how many analysts are bullish and bearish on the market, and providing professional insight for individual strategy decisions. In a special “Pick of the Week,” analysts identify the trade they foresee as most promising, based on current market conditions.
[U][B]Schedule of Trading Ideas (schedule is subject to change based on market conditions):[/B][/U]
[B]Monday:[/B] “Pick of the week” | Each analyst picks the trade they think will be the most profitable.
[B]Tuesday: [/B]Trading ideas for the EUR and GBP.
[B]Wednesday:[/B] Trading ideas for the JPY,
[B]Thursday: [/B]Trading ideas for the CAD
[B]Friday: [/B]Trading ideas for the AUD or NZD.
[B]Find DailyFX.com analyst’s picks here: http://www.dailyfx.com/analyst_picks/[/B]
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