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Low level of inflation negatively affects the growth of the dollar…Rate dynamics and recommendations on USD/CHF and USD/CAD.
07:05 05/17/2004
Low level of inflation negatively affects the growth of the dollar…Rate dynamics and recommendations on USD/CHF and USD/CAD.
Contradictory data on the U.S. economy resulted in little correction of the rate.
Negative data on Foreign trade balance and budget deficit put the pressure on the rate of the dollar on Thursday and was supported by uncertain indicators at the end of Friday session. The preliminary Michigan sentiment index came out unchanged at 94,2 in May against 94,2 in April.
Low level of inflation in the U.S. produced an impact on USD/CHF and USD/CAD currency pairs and contradicted the classic canons of economic theory, which state that reduction of inflation strengthens national currency. That is explained by the fact that inflationary rise is directly connected with FRS rate changes. Thus, real consumer price rise came out below market forecasts. The Labor Department data showed that CPI rose 0.2% in April compared to March. Prices rose for the fifth straight month. Economists had looked for 0.3% gains. Compared to April of last year, CPI rose 2.3% against forecasted 2.4%.
Recommendations: we recommend sticking to the previous advice. The above stated facts tell us about possible correction of the uptrend towards the pointed out guides.
Recommendations: we recommend sticking to the previous advice. The above stated facts tell us about possible correction of the uptrend towards the pointed out guides.
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