The single currency has found footing today as the greenback has retraced some of its gains today after this week rally from 1.5835 to 1.454 after Bernanke comments that the growth downside risks have diminished over the past month or so and the fed now will strongly resist an erosion of longer-term inflation expectations which increase the market expectations of hiking interest rate later this year for tackling inflation pushing the greenback higher across the broad and there can be ongoing uptrend settlement currently fueled by hiking interest rate for fighting inflation upside risks after be Bernaneke optimistic comments about growth and there can be ongoing uptrend settlement currently fueled by hiking interest rate for fighting inflation upside risks after be Bernaneke optimistic comments about growth.

 

We wait later this week for the US retail sales of May which is expected to increase by .4$ monthly after a decline in April BY .2%. We have also May CPI which is expected to increase by .5% from .2% in April.

 

Best wishes

 

FX Consultant

Walid Salah El Din

E-Mail: mail@fx-recommends.com

http://www.fx-recommends.com