| EUR/USD | USD/JPY | GBP/USD | USD/CHF | |
| 1.4945 | 111.75 | 2.087 | 1.12 | |
| Resistance | 1.492 | 111.75 | 2.0845 | 1.1145 |
| 1.49 | 110.65 | 2.0695 | 1.1115 | |
| 1.477 | 109.15 | 2.0605 | 1.102 | |
| Support | 1.474 | 109 | 2.045 | 1.1 |
| 1.4695 | 108.75( | 2.0425 | 1.099 |
Yesterday, the dollar dropped more than 180 pips against the euro currency and traded at all time low at 1.4853. All that after the Federal Reserve said on Tuesday that housing slump, tighter credit conditions and high oil prices would likely slow U.S. economic growth in 2008.
The forecast was released along with minutes from the Fed's October policy meeting, which revealed officials' decision to cut rates was a close call following a debate on whether to await more evidence that a housing slump was curbing growth.
The Fed's forecast for U.S. growth to slow next year to between 1.8 percent and 2.5 percent, sharply down from the 2.5 to 2.75 percent forecast in June, suggested to some investors that the Fed will have to cut benchmark lending rates again in December or earlier to prevent the economy from stalling further.
"I don’t see any strong data that change the U.S negative sentiment so I believe we will see the pair eur/usd crossing the 1.5000 level in the short term” said Rodion Rahnayev, financial dealer at finotec.com.
The Fed's next policy meeting is on Dec. 11. Markets expect a quarter-point cut in the federal funds rate. The central bank cut rates in October by a quarter points to 4.50 percent after slashing them by half a point in September.
Today main focus will be on BoE monetary police committee at 9:30 GMT the member will vote for further monetary policy. Another important data comes from U.S economy is the unemployment claims. The date will be released at 13:30 GMT for now the expectations are for a 9 thousands drop.
Today's Economic Events
| Date | Event | Country | Period | Previous | Forecast | Significance |
| 02:00 GMT | Credit Card Spending y/y | NZD | 9.50% | 2 | ||
| 09:00 GMT | Italian Retail Sales m/m | EUR | Sep | 0.20% | 0.00% | 2 |
| 12:30 GMT | New Motor Vehical Sales m/m | AUD | Oct | 1.80% | 3.50% | 2 |
| 13:30 GMT | Retail Sales m/m | CAD | Sep | 0.70% | 0.10% | 3 |
| 13:30 GMT | Unemployment Claims | USD | Weekly | 2 | ||
| 13:30 GMT | Core Retail Sales m/m | CAD | Sep | 0.30% | 0.30% | 3 |
| 15:00 GMT | Consumer Sentiment m/m | USD | Nov | 75 | 75 | 2 |
| 15:00 GMT | Leading Index m/m | USD | Oct | 0.30% | -0.20% | 2 |
| 15:30 GMT | Crude Oil Inventories | USD | 3 |
