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Forex · News · Forex ForecastsNEWS / Forex Forecasts |
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All financial markets feel pressure of tensions…Forecast on the dynamics of rate of USD/CHF and USD/CAD.
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08:47 03/18/2004
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All financial markets feel pressure of tensions…Forecast on the dynamics of rate of USD/CHF and USD/CAD.
Exchange rates were affected by another terrorist act that was carried-out in Baghdad and by new letters, containing threats of conducting similar acts in some European countries.
Thus, despite our expectations, the rate of Swiss frank got stronger because investors fear further expansion of tensions. The role of “quiet harbor” that was once given to frank seems to be reappearing.
Besides, dollar sales against yen are stimulated by unexpected statement made by Japanese officials. They say that Bank of Japan might stop carrying-out currency interventions for some time.
Yesterday’s data on the US economy was not surprising. Thus, consumer price index in the US in February made up +0.3%, whereas forecasted as +0.3%. CPI, excluding food and energy, made up +0.2% in the US in February, whereas forecasted to be +0.1%.
However, today’s American data will be more significant for the market.
Thus, at 16:30 Moscow time we’ll find out the number of jobless claims in the US during the week up to March 13 (forecast is 345000, previous value was 341000);
At 18:00 Moscow time – index of leading indicators in the US in February (forecasted as 0.0%, previous value was +0.5%)’
At 20:00 Moscow time – Philadelphia Fed index in the US in March (forecast is +30.0, previous value was +31.4).
Besides, investors will be interested in the results of FOMC meeting of FRS US that took place in January 27-28. The given results will be published at 22:00 Moscow time.
Despite release of important economic data, we can assert that players’ attention is fixed on the world news, coming from those places where tension is really high. Thus, another terrorist acts might turn the market to other direction.
That is why we do not recommend trading European currencies so far. At the same time, we recommend keeping long positions on USD/CAD rate, as recommended yesterday.
That is why we do not recommend trading European currencies so far. At the same time, we recommend keeping long positions on USD/CAD rate, as recommended yesterday.
The forecast was created by trans1.
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