Forexpros.com Daily Analysis - 15/12/2009

[forexpros]

Forexpros Daily Analysis Dec 15, 2009


Free webinar TODAY on Forexpros - Trading Platforms- Why do they Matter?

Expert: Amy Walsh
When: Tue, Dec 15, 2009, 10:00 EST

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Fundamental Analysis: Interest Rate Decision

The Federal Open Market Committee (FOMC) decision on short term interest rate is due out tommorow (Dec 16) in the US.
The decision on where to set interest rates depends mostly on growth outlook and inflation. The primary objective of the central bank is to achieve price stability. High interest rates attract foreigners looking for the best "risk-free" return on their money, which can dramatically increases demand for the nation's currency.
A higher than expected rate is positive/bullish for the USD, while a lower than expected rate is negative/bearish for the USD.
Analysts forecast that the interest rate will remain at 0.25%.

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[color=black]The Euro surpassed the support 1.4656, and settled for 1.4616, but it did nopt test or even come close to the most important resistance 1.4701. The rising trend line from Tuesday