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Forex · News · Forex ForecastsNEWS / Forex Forecasts |
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Daily review of the market.
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08:26 07/26/2004
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Daily review of the market.
The end of the week was a positive one for the dollar, as it stayed under the influence of optimistic statements made by A. Greenspan in terms of discount rate hike.
Greenspan expressed his assurance that American economy would develop at a high pace, which, in its turn, would contribute to creation of new jobs.
Such statements mean that FRS is ready to continue raising base interest rate target in the country.
In its turn, British currency declined following data on British GDP in the second quarter, which came out as forecasted.
Official data show that GDP rose by 0.9% in the second quarter compared with the previous quarter and increased by 3.7% compared with the last year.
Annual index value is the highest since the year 2000.
Final value of Consumer prices in France in June made up 0.0% per month, +2.4% per year.
Preliminary value of the given index equaled 0.0% per month, +2.4% per year.
Final value of HICP in France in June made up +2.7% per year, whereas forecasted +1.9% per year.
In Italy, retail sales in May made up =0.6% per month, -3.2% per year.
The given index is the lowest since the year 1996.
As German government reports, prices for German imports dropped by 0.6% m/m in June against the forecasted –0.3% m/m.
Annual growth made up 2.0% against +2.5% y/y in May.
June reduction was mainly caused by 4.9% m/m fall in prices for raw oil and 6.4% m/m dip in prices for oil products.
Excluding prices for oil, import prices dropped by 0.2% m/m for the second straight month, though annual norm rose to +0.4% y/y from +0.3%.
Consumer price index of German Saxony bade up +0.2% per month, +1.7% per year in July against the previous 0.0% per month, +1.7% per year.
Consumer price index of Brandenburg lands in Germany made up +0.3% per month, +2.1% per year in July.
Consumer price index of North Rhine-Westphalia lands in Germany made up +0.3% per month, +1.8% per year in July.
The previous value of the given index equaled +0.1% per month, +1.7% per year.
Consumer price index of Bahden-Vurtemberg in Germany rose against its previous value and made up +0.4% per month, +2.2% per year.
Eurozone data produced no significant impact on the rates of major currency pairs.
The forecast was created by trans1.
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