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Forex · News · Forex ForecastsNEWS / Forex Forecasts |
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Rate dynamics and recommendations on EUR-USD and GBP-USD.
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08:02 05/26/2004
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Rate dynamics and recommendations on EUR-USD and GBP-USD.
Despite positive release of American consumer confidence index, quotations on the Euro and pound sterling did not react in any way to that event. As reported on Tuesday, consumer confidence index, calculated by Conference Board, rose to 93,2 in May compared to revised 93,0 in April. According to the initial data, April value of the index equaled 92,2. Reuters survey showed that, in average, economists had looked for 93,5 climb. Index component, reflecting Americans’ attitude towards the economic situation and their current financial standing, dropped from 90,4 in April to 90,3 in May. Index component, reflecting Americans’ expectations in terms of the nearest six months, rose from 94,8 in April to 95,2 in May. Of all Americans, who participated in Conference Board survey in May, 30,6% think that it is difficult to find a job. 28,0% of respondents though the same way in April (revised indicator). Initial data showed that April indicator equaled 27,6%. The share of respondents, who think that there are enough workplaces, rose from 15,6% in April to 16,6% in May. The share of respondents, thinking that work conditions improved in the U.S., rose from 21,7% in April to 22,3% in May.
The market is still expecting the Bank of England rate hike and is under the impression of the record rise of prices for oil. Rise in prices for carbon sources of power affects the rate of the dollar and evidently produces a negative impact on European countries’ economy.
Another important factor, affecting the dollar, is the situation in Iraq.
Analysts think that in case Iraq tensions grow stronger, the market will buy the Euro and Swiss frank – traditional shelter currency. On Tuesday, the main Shiit sacred mosque of Ali imam in Nadzhaf was partially ruined by racket or mine fire. The given event might result in Shiit majority aggression later on.
Recommendations: no events are scheduled for today and we recommend sticking to earlier given recommendations.
Recommendations: no events are scheduled for today and we recommend sticking to earlier given recommendations.
The forecast was created by trans1.
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