Market View - EUR

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Euro/Dollar rapidly falls from maximums of the previous session. Dealers noted that strong sell of Euro in European session was provided by Asian account, whose appetite was quite high, so their Euro sell leaded to a drop to the current minimum rate at the level of $ 1.5520, and the downward pressure remains. General weakness of the Euro also is shown in other crosses, in particular, in the currency pair of Euro/Yen. The sell of Euro against the Japanese currency is so strengthened, that the European stock markets entered red zone in Thursday. A serious influence on EURUSD was made by consolidation USDCHF against a background of weakening of the Swiss currency after the SNB decision to retain the interest rate at the same level 2.75%. In this moment stops under $1.5520 is under thread and their execution stimulates new sales of highly demanded area in the region of $ 1.5460.



[b]Economic Calendar[/b]



19-Jun-08

Time Location [b]Indicator[/b] Period Unit Forecast Previous Actual

[u]Time is CET and that of the Trade Terminal[/u]

01:30 Japan [b]Tankan Survey[/b] June -2 -2

08:15 Switzerland [b]Trade Balance[/b] May Mln 1532.1 1873.5

08:40 Japan [b]BoJ Governor Speaks[b] June

09:30 Switzerland [b]Swiss Rate Decision[b] June % 2.75 2.75 2.75

10:30 United Kingdom [b]PS net borrowing[/b] May Bln 9.3 8.519R 10.955

10:30 United Kingdom [b]PSNCR[/b] May Bln 6.5 6.25R 10.987

10:30 United Kingdom [b]Retail Sales[/b] May % -0.1 -0.3R 3.5

13:00 Canada [b]Core CPI m/m[/b] May % 0.3 0.3

13:00 Canada [b]Core CPI y/y[/b] May % 1.5 1.5

13:00 Canada [b]Consumer Price Index (CPI) m/m[/b] May % 0.7 0.8

13:00 Canada [b]Consumer Price Index (CPI) y/y[/b] May % 1.9 0.8

14:30 United States [b]Jobless Claims[/b] w/e k 375 384

14:30 Canada [b]Wholesale Trade[/b] April % 0.6 0.6

16:00 United States [b]Leading Indicators[/b] May % 0 0.1

16:00 United States [b]Philadelphia Fed[/b] June -10 -15.6

[b]During the news the market may heavily and unexpectedly move, depending on results of publications and statements. So we recomend all traders to set alarm for risk management and miximalization of losses before the news. [/b]