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Forex · News · Forex ForecastsNEWS / Forex Forecasts |
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American players will determine the depth of correction…Forecast on the dynamics of USD/CHF and USD/CAD rates.
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10:34 03/27/2004
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American players will determine the depth of correction…Forecast on the dynamics of USD/CHF and USD/CAD rates.
Yesterday’s American statistics was not at all surprising. U.S. Jobless claims made up 339000 in the week ended March 20 (forecasted as 340000, previous value was revised from 336000 to 338000).
Final value of GDP index made up +4.1% in the IV quarter of 2003 (forecasted as +4.1%, specified value is +4.1%).
Despite the fact that both indicators coincided with the forecasts, American currency did not get an impulse for further rise.
Besides, Federal Bureau of Investigation informed that oil-processing plants, situated in the Southern states, might be the next targets of militant attacks. The given message was not an inspiring one for purchasing American currency.
After regular American releases, we assume the possibility of significant decline of the dollar against major currencies.
Let us remind that personal income index in the US in February (forecasted as +0.3%, previous value was +0.2%) and personal expenses index (forecasted as +0.5%, previous value was +0.4%) in the US in February was published at 16:30 Moscow time yesterday.
At 17:00 Moscow time investors’ attention was fixed at the address of Alan Greenspan, the head of the US FRS.
At 17:45 GMT, final value of Michigan sentiments index for March (forecasted as 94.1, previous value was 94.1) was published.
The address of the secretary of the US Treasury Snow took place at 20:00 Moscow time.
The pressure has already started. Now, we should outline possible pullback depth that will determine the start of regular purchases the target of which will be overcoming 1,29 on USD/CHF.
The level 1,2660-75 looks like a very attractive target for short-term decline. That’s where further dynamics of the rate will be determined.
So far, we recommend staying out of the market and waiting for the end of correction.
The pressure has already started. Now, we should outline possible pullback depth that will determine the start of regular purchases the target of which will be overcoming 1,29 on USD/CHF.
The level 1,2660-75 looks like a very attractive target for short-term decline. That’s where further dynamics of the rate will be determined.
So far, we recommend staying out of the market and waiting for the end of correction.
The forecast was created by trans1.
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