Overnight Asia/Europe
• Slow start in Asia, USD firms in Europe
• Volumes lighter
• Traders note technical trade and stops again

For the first time since December 2005 the futures markets shows a net long position for the USD. This means that traders around the world are beginning to either see the strengthening of the USD as something happening in the near future, or they see the EUR has already reached its peak and is now [...]

- EUR/USD reversal driven by pent up sentiment and an IFO trigger.
- US data little help ahead of next week’s GDP numbers and rate decision, will UK growth figures change that?

EUR/USD (1.5825)
European & US sessions forecast levels: 1.5710/1.5915
Trend Sessions: European: Neutral/Upward
US: Neutral/Upward
Market Focus: 5:00 AM ECB President Trichet Speaks.