|
 |
Forex · News · Forex ForecastsNEWS / Forex Forecasts |
|
|
|
|
|
|
|
Weekly claims are in the focus of market attention…Forecast on the dynamics of USD/CHF and USD/CAD rates.
|
|
10:49 03/25/2004
|
|
Weekly claims are in the focus of market attention…Forecast on the dynamics of USD/CHF and USD/CAD rates.
Yesterday’s data on the US economy turned out to be better than forecasted, so the dollar immediately rose against all European currencies.
Thus, Durable goods orders made up +2,5% in the US in February (forecasted as +2,0%, previous value was revised from –2,3% to –2,7%). Index turned out to be positive for the fourth time in the last six months.
New home sales in the US in February made up 1163000, forecasted as 1110000.
However, there are some factors that put pressure on the dollar. Thus, a message, saying that an explosive device was found in France on the railroad going from Paris to Basel, made investors purchase Swiss franks and precious metals.
As a result, the rate of EUR/CHF fell and tested local support close to 1,5475. 1,5370 can become a key target of that decline and attempts to restart uptrend of the rate can also be made from the given point.
Besides, hidden support of American currency is provided by rumors about possible rise of FRS US interest rate, on the one hand, and possible reduction of the level of major interest rates in Europe (12), caused by statements of European officials.
For example, German minister of finance Klement openly stated yesterday that the reason of low rates of economic growth in Germany was uncontrollable rise of the rate of Euro.
The following data is to be in the focus of attention today:
16:30 Moscow time – weekly jobless claims up to 20.03 in the US (forecasted as 340000, previous value was 336000).
16:30 Moscow time – final value of GDP index in the US in the IV quarter (forecasted as +4,1% per year, specified value +4.1% per year).
18:00 Moscow time – Existing home sales in the US in February, estimated in millions of dollars (forecasted as 6.15, previous value was 6,04) and index of claimed workers in the US in February (forecasted as 39, previous value was 38).
In fact, the given data will determine further direction of currency pairs’ moves (in case, there occur no geopolitical “surprises”).
So far, we recommend keeping earlier opened positions (purchasing USD/CHF from 1,2766 and purchasing USD/CAD from 1,3280). Here, we recommend pulling protective stops to 1,2630 on USD/CHF and “break-even” (1,3280) on USD/CAD. The targets (short-term and strategy) are the same.
So far, we recommend keeping earlier opened positions (purchasing USD/CHF from 1,2766 and purchasing USD/CAD from 1,3280). Here, we recommend pulling protective stops to 1,2630 on USD/CHF and “break-even” (1,3280) on USD/CAD. The targets (short-term and strategy) are the same.
The forecast was created by trans1.
|
|
 Printer-Friendly Version
 Send This Page
 Add to Favorites
 Comments
|
|
|
|
|
|
|
|
|
|
 |
|
|
|
|
|
