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Forex · News · Forex ForecastsNEWS / Forex Forecasts |
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Daily review of the market.
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08:09 08/03/2004
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Daily review of the market.
At today’s trades, American currency is still trading within the tight range.
Analysts note that, on the one hand, the exchange rate of the dollar slid because investors are concerned about possible militant attacks that might be carried out in the U.S.
But on the other hand, American currency is supported by data proving that business activity is on the high level in the U.S.
The U.S. National Security Agency announced that the level of militant attacks’ threats had risen from medium to high. It was said that financial institutions of New York and Washington, D.C. could become the targets of militant attacks.
The Institute for Supply Management’s national factory index rose to 62.0% in July against 61.1% in June. Economists had looked for the index to rise from 61.1% to 61.5%. new orders index increased to 64.7% from 60.0% in June.
Production index rose to 66.1% from 63.2% in June.
Employment index dropped to 57.3% from 59.7% in June.
But the ISM\'s prices paid index eased to 77.0 from 81.0 as commodity prices fell back from recent highs.
Release of data, showing business activity spread in Europe, supports the exchange rates of the European currencies.
In Germany, PMI growth made up 56.6 against 55.5, though, according to the average forecasts, it had to equal 56.2.
In France, July PMI dropped from 55.8 to 54.6, which is against all the forecasts, as 56.0 gain was expected.
In Italy, business activity index in July made up 52.6 against the previous 52.3.
In a whole, PMI processing industry index for Eurozone made up 54.7 in July against 54.4 in June. According to the forecasts, PMI had to increase to 54.9.
In Britain, business activity index made up 56.3 in July, whereas forecasted 54.5.
The previous value of the index was revised from 54.8 to 55.0.
The indicator exceeded the forecast and reached the maximum since October 1994.
The forecast was created by trans1.
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