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Unexpectedly strong economic data in the USA supported American currency… Brief review of the market.
22:46 04/13/2004
Unexpectedly strong economic data in the USA supported American currency… Brief review of the market.
Brief review of the market.
At the today\'s tenders dollar continued to become stronger in relation to the basic currencies after the US Ministry of Trade had published unexpectedly strong data on retails in March, testifying about stability of the process of restoration of national economy.
Nevertheless, adverse situation in Iraq can exert negative influence on dollar.
The volume of retails in the USA increased 1.8 % up to 333.01 billion dollars against the reconsidered 1.0 % February growth (it was earlier reported about its 0.6 % increase). Analysts expected only 0.7 %. expansion of sales.
In annual calculation retail sales increased 8.2 % in March, 2004.
Without taking into account sales of automobiles the volume of retails increased 1.7 % in March.
On April 2 the report on employment in the USA in March was published. It showed that 308 thousand workplaces in the American economy were created in March.
German economic institute DIW declared increase of forecast of the rates of German economic growth in the first quarter of the current year from +0.1 % up to +0.2 % for a quarter.
Index of industrial production in Italy for February made 0.0 % for a month, +0.2 % for a year, that appeared above predicted level.
The previous value of the given index was reconsidered from -0.2 % up to -0.3 % for a month, from +0.3 % up to +0.1 % for a year.
These data can support the rate of single European currency.
Yesterday the Ministry of Finance of Japan informed that external surplus grew 46.2 % in February in comparison with the last year up to a record level of 2.16 trillion Yens.
The bank of Japan also raised the predicted level of economic development, considering that it started to influence internal demand.
It also decided to leave its monetary policy without changes, as economic growth is not broken.
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