DailyFX.com Chief Strategist
Picks: Short EUR/USD
New York, August 12, 2008
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
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.
Find DailyFX.com analyst’s picks here:http://www.dailyfx.com/analyst_picks/
DailyFX.com Analyst Give
Free Trading Ideas
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.
Schedule of Trading Ideas (schedule is subject to change based on market conditions):
Monday: "Pick of the week" | Each analyst picks the trade they think will be the most profitable.
Tuesday: Trading ideas for the EUR and GBP.
Wednesday: Trading ideas for the JPY,
Thursday: Trading ideas for the CAD
Friday: Trading ideas for the AUD or NZD.
Find DailyFX.com analyst’s picks here: http://www.dailyfx.com/analyst_picks/
# # #
• DailyFX.com is one of the world’s leading news and information sources for the currency trading community, providing research, forecasts and proprietary studies.
• Wide international audience: Over 4 million page views a month.
• Up-to-the minute news: From 10 to 20 articles and reports every day on the latest changes in the currency market.
• Timely technical analyses: Close examination of promising chart formations.
• Up-to-date analysis of fundamental influences: In-depth analysis of recent price moves, predictions of likely market moves and explanations of economic and political factors driving the market.
• Economic Calendar: Complete release schedule of news events coming out of the G-10 countries, with sort and filter capabilities to rank each by importance and impact on specific currencies.
• Forum: The DailyFX.com Forum is a serious online forum that avoids the “market noise” and irrelevant personal commentary that plague many forex blogs and forums. DailyFX strives to keep the DailyFX.com Forum the place where real traders go to talk about serious trading.
• Free charts: Free forex charts for beginning, intermediate and expert traders, complete with live currency quotes
• Live rates: Live currency rates around the clock.
# # #
Leveraged foreign exchange trading carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
Public Relations Coordinator
32 Old Slip, 10th Floor
New York, NY 10005
Dir (646) 432-2463
Tel (212) 897-7660