During his recent speech in Berlin the ECB’s President Jean-Claude Trichet said that he was monitoring the risk of inflation growth. Before the last interest rate increase he said the same thing. Most observers share the opinion that the ECB is going to increase the key interest rate this summer. The announcement may take place on June 9th.
It should be noted that the ECB was the first to increase the interest rate and is now expected to make it reach 2% by 2012.
FOREX. EURUSD is seeing a mid-term retracement of H8 against the long-term uptrend. The experts of the Department of studying Masterforex-V trading system say that EURUSD has already come out of the bearish sloping channel while making a potentially reversal upward swing of H4, which can turn out to be the beginning of a rally within the framework of the long-term uptrend. The price is expected to encounter resistance at 1,4939 (May’s high). The downward retracement can be continued in the form of the “Hound” pattern of H8 while the closest support level will be set at 1,3969.
