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Expert Analysis of Today's Market
2008
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2007
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The EUR/USD touched 1.4384, the lowest level since January 22 after reports showed the European economy is contracting. However, the pair failed to stay below 1.44-1.45 support after the Fed's Beige Book showed the pace of economic activity has been slow in most US Fed districts. At its meeting tomorrow, the ECB is expected to remain hawkish on inflation despite the recent economic slowdown in Europe. If ECB President Jean-Claude Trichet appears dovish at the following press conference, the EUR/USD support may be penetrated.
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