EURUSD down ahead of scheduled speeches from President Obama and Fed President.

[RTFX-Trading]

What's new:

US: Bernanke, optimistic about the economic outlook in the US, Fisher expects a sharp contraction of GDP in Q1.
US: Retail Sales down 1.10% in March.
US: Producer Prices index fell by 1.20%

Later Today:

16:00 US: Stock levels in February, due -1.00%, previous -1.10%.
17:30 US: U.S. President Obama speech on the state of the economy.
19:30 US: speech by Fed chairman Bernanke.

European Session Rates:

EURUSD: 1.3344 - 1.3226
USDCHF: 1.1448 - 1.1348
GBPUSD: 1.4931 - 1.4825
EURCHF: 1.5185 - 1.5126
USDJPY: 99.97 - 99.17
Gold: $891.85
Oil: $49.94 -0.22%.


Comments:

Officials of the Federal Reserve are not in full agreement: The Fed Chairman, Ben Bernanke, said he was optimistic about the economic outlook in the US, “A stabilization of economic activity is the first step towards recovery,” he observed. The President of the Dallas Fed is expecting a contraction of US GDP in Q1 of 2009, and added that he does not share certain views that the US dollar may suffer a sharp depreciation.

Later today, the highly anticipated speech of the President of the United States, Obama, at 17:30 on the state of the U.S. economy; and the U.S. Federal Reserve President’s speech, Ben Bernanke, at 19:30.

Good Afternoon,

Nicolas Longchamp
RTFX Ltd
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