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Forex · News · USMarketNEWS / USMarket |
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Market prefers to hold a pause…Rate dynamics and recommendations on USD-CHF and USD-CAD.
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13:26 06/22/2004
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Market prefers to hold a pause…Rate dynamics and recommendations on USD-CHF and USD-CAD.
The last news about bomb explosion in Ankara close to “Hilton” hotel, where the president of the U.S. George Bush was to stop during his visit to Turkey, immediately crushed the dollar down against major currencies. However, that collapse was of a short-term nature and present the dollar is compensating its recent losses.
In a whole, market is still extremely thin. Let us remind that economic data on durable goods and jobless claims in the U.S. are scheduled for 12:30 GMT today. That data together with American release that is due tomorrow can influence decision-making June 29-30.
Let us remind that the forecast on jobless claims in the week ended June 19 equals 339 000, whereas the previous value equaled 336 000. Durable goods orders are expected to be +1.8% in May in the U.S., whereas the previous value equaled –3.2%.
New home sales in the U.S. in May are to be released at 14:00 GMT. Let us remind that economists are looking for 1130000 and the previous value equaled 1093000. Index of required workforce in the U.S. in May (forecasted 40, previous value was 38) is to be released at the same time.
Just as it was earlier, market players’ doubts are directly connected with FRS rate hike expectations. But as current expectations have already been reflected in prices, the dollar can\'t find stimulus for growth. However, great number of economists think that data that its expected today and tomorrow will seriously affect FRS decision.
Recommendations: taking into account present thinness of the market and a whole series of fundamental and political news, we recommend staying out of the market.
Recommendations: taking into account present thinness of the market and a whole series of fundamental and political news, we recommend staying out of the market.
The forecast was created by trans1.
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