EUR off its 3-week highs of 1.5685 - with focus turning to German IFO now
due at 0800GMT, FORECAST sees IFO fall to 102.0 from 102.4, in line with
markets - but will not be surprised to hear rumours of sub 100 IFO - ahead
of the data. But before IFO - will be interesting to hear any
"clarification" comments from ZEW Pres Wolfgang Franz saying his ECB rate
hike comments which triggered EUR buying from 1.5560-65 post ZEW fall
to -41.4, are "misunderstood" - remember BdF/ ECB Christian Noyer - who went
through great lengths on April 23 - after his rate hike comments triggered
EUR buying - to say his comments have been misunderstood. If so not
surprised to see downside pressure on EUR again, with EUR now at 1.5660-62,
offers ahead of 1.5700 handle, stoploss blw 1.56/ 1.5550.WL

EUR dipping off its 3-week highs of 1.5685, with talks of Asian, options
offers ahead of 1.5700 handle. Some focus on record high oil, which hit
$129.60, and OPEC comments. OPEC Sec Gen Abdullah al-Badri says he is
"worried" because supply and demand are not the factors behind the high oil
prices. Non market factors such as the weakening USD is putting pressure on
oil but OPEC will only act when market fundamentals show a need to do so.
Crude inventories show there is a lot of oil in the market. - Reuters. On
FX, focus on USD, and high oil.


Euro Briefing
mercoledì 21 maggio 2008 6.27.00





3 [IFR Forex Watch] (C) 08 ^^^2335

[Euro Briefing]]

[04:27 GMT May 21] The EUR/USD opened in Asia around 1.5650 after
topping out at

1.5680 as the EUR gave back ground against the JPY and CHF in
particular during

the US session. The EUR/USD dipped to 1.5645 before the USD came under
broad

pressure led by the USD/JPY break below 103.40. The EUR/USD traded up
to 1.5686

to trigger a few stops above 1.5680 before good EUR/JPY selling helped
to cap.

The EUR/USD then settled back around 1.5655/70 for the balance of the
session

with only light volumes changing hands.

Sentiment towards the EUR/USD has turned decidedly bullish after the
break

higher yesterday. ECB expectations have taken a decidedly hawkish tone
in the

last two weeks from the market looking for the ECB to ease later this
year to

now looking at the possibility for another tightening. The German IFO
later

today will be the key event in Europe and will be followed by the
release of the

FOMC minutes, which is one of the key events this week for all of the
markets.

If the German IFO doesn"t disappoint and the Fed Minutes indicate that
they are

not close to considering a rate hike, the EUR/USD could break above
1.57. (JN)




U.S. House passes anti-OPEC bill
mercoledì 21 maggio 2008 7.37.00










WASHINGTON (Thomson Financial) - The House of Representatives Tuesday
passed a bill authorizing the federal government to sue OPEC in U.S. courts
over alleged price fixing, in the latest swipe at the cartel over
skyrocketing oil prices.


The bill passed the Democratic-led House by 324 to 84 votes, on a day
when the price of oil soared to a record above 129 dollars a barrel.


'The House today with a strong bipartisan and veto-proof margin voted
to hold foreign oil cartels and Big Oil accountable,' Democratic House
speaker Nancy Pelosi said.


President George W. Bush has however threatened to veto the
legislation, although its margin of passage in the House suggested Democrats
may get a two-thirds majority needed to sustain the largely symbolic
measure.



-----> In conclusione credo che i mercati scenderanno solo con un IFO
(sentiment) inferiore a 101.9

Buondì....

"l'orsotoro®" <lami@com.it> ha scritto nel messaggio
news:4833b75e$0$35953$4fafbaef@reader2.news.tin.it ...
> EUR off its 3-week highs of 1.5685 - with focus turning to German IFO now
> due at 0800GMT, FORECAST sees IFO fall to 102.0 from 102.4, in line with
> markets - but will not be surprised to hear rumours of sub 100 IFO - ahead
> of the data. But before IFO - will be interesting to hear any

cut, supercut
ma che deve capire un povero geometra ignorante?
Tu che mastichi, facci un riassunto, dacci un'idea.
Altrimenti devo ricorrere ai traduttori del web che mi fanno aggrovigliare
il cervello per capire le loro traduzione.
TKS