I tried a lot of paid forecasts and signals but I didn`t meet such quality forecasts. I `ve been looking for 2 months and checking positions - the result is fabulous, it`s easy to follow predictions and the statistics is genuine true! Thanks for being OpenForex
Rate dynamics and recommendations on EUR-USD and GBP-USD.
07:48 08/06/2004
Rate dynamics and recommendations on EUR-USD and GBP-USD.
Yesterday events had almost no impact on Forex forces’ distribution. Mainly, that is explained by the fact that the decisions of the two European Banks – European central Bank and the Bank of England – were as expected. ECB left the rate unchanged, as Bank authorities are concerned about the pressure that oil prices rise puts on the economy. Raising refinancing rate target would have produced a negative effect on Eurozone’s economic growth.
The news that the Bank of England raised refinancing rate target 0,25% produced different effects on analysts, though that decision was forecasted. Rise in prices for real estate puts inflationary pressure on the economy and raising rate target serves as an attempt to cool real estate market, otherwise situation might get uncontrollable. On the other hand, rate hike might produce a negative impact on economic advance. Analysts say that refinancing rate might reach the level of 5% by the end of the year.
Data on the European Banks’ rates were counter-balanced by positive data on the U.S. Labor market. In the U.S., jobless claims dropped to 336 000 in the week ended July 31 against previous week’s 347 000 and against the forecasted 340 000 claims.
Recommendations: now, the market is expecting decision upon the rate of refinancing and it is August vacation period. That is why it is better not to open new positions and sticking to previous recommendations.
Recommendations: now, the market is expecting decision upon the rate of refinancing and it is August vacation period. That is why it is better not to open new positions and sticking to previous recommendations.
Printer-Friendly Version
Send This Page
Add to Favorites
Comments
