The period of stabilization has come… Brief review of the market. by OpenForex.com

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The period of stabilization has come… Brief review of the market.

11:43 04/17/2004

The period of stabilization has come… Brief review of the market. Brief review of the market. Expectation of fast increase of interest rates in the USA within last days actively supported the American currency. However now there has come the period of some stabilization that was promoted by the publication of the parameter describing the rate of unemployment. On Thursday the US Department of Labor informed that the quantity of US weekly jobless claims increased showing biggest growth for a year. The number of jobless claims for a week ended on April 10 increased from the reconsidered 330000 up to 360000. That is the biggest growth since December 2002. The last year average index of claims was 402100, and from the beginning of the current year the average index is 351000 already. Economists considered that the number of the unemployed would rise from 328000 up to 335000 last week. Four-week sliding average increased from 337500 up to 344250 last week, that is a maximum level since March 6. For the week ended on April 3 the parameter of repeated claims reduced 22000 to 2,980 million, lowering to a level fixed in July 2001. The Federal Reserve Bank of Philadelphia informed on Thursday that index of industrial activity, calculated in Philadelphia and the region, decreased to 24,2 in March, in comparison with 31,4 in February. In January the index was equal to 38,8 that was its highest value since January 1984, and for last 20 years. The index degreased in February and March that indicated the delay in growth of activity in industrial sector of Philadelphia, and then raised again in April. Its April value much more exceeded the forecasts of economists. According to Reuters interrogation, economists predicted that in April the index will make 26,8. The component of Philadelphia Federal index, reflecting the volume of new orders, raised from 21,9 in March up to 26,1 in April. Index component, reflecting scope of delivery, rose from 22,3 up to 27,7. The component, reflecting level of employment in industrial sector of Philadelphia and the region, degreased from 12,3 to 12,2. Value of this component appeared positive for seventh month in a row, indicating that there was an expansion of the personnel in sector. I Index component, reflecting duration of working week in industrial sector of region, dropped from 17,9 to 10,4. Index component, reflecting the prices received by the industrial companies of Philadelphia for their production, decreased from 22,6 to 13,7. The component, reflecting prices paid by the industrial companies of region for raw material, materials and accessories, dropped from 53,4 to 51,9. Index component, reflecting the level of warehouse stocks, increased from -12,8 up to 11,7, indicating the growth of stocks after last month’s reduction. The component, reflecting the volume of not executed orders, degreased from 8,8 to -2,5.

The forecast was created by trans1.