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Forex · News · Forex ForecastsNEWS / Forex Forecasts |
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US market …Wait for the FRS meeting results.
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08:08 08/10/2004
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US market …Wait for the FRS meeting results.
There is no need to retell all the horrors of Friday trading at American stock exchange market. Today, the market has been trading in different directions, as if taking a time-out. For example, the stocks of MaximIntegrated Products Inc. rose today (the company produces semi-conductors for mobile phones and video equipment). Company’s stock rose following the release of company’s forecast that, as a result of the past quarter, net profit would equal 42 cents calculated per stock and gain would make up $455 million, whereas experts expected 41 cents.
Ultimately, analysts think that Monday activity of the stock exchange market trading was rather low, as investors were expecting the FRS U.S. meeting due August 10. The level of base interest rate is to be discussed at the meeting. By the way, June wholesale inventories data on the U.S. do not add optimism. The U.S. Department of Trade reports that wholesale inventories rose by 1.1% in June to $309.5 billion, whereas gain in 0.6% was expected. According to specified data, May indicator increased by 1.4% and not by 1.2%, as reported earlier. Specialists think that overstocking of warehouses was the consequence of sales growth stop. In June, the volume of sales remained without a change after 12 months’ continuous growth. The average period, during which goods were stored at the warehouses, equaled 1.15 months in June, which is the maximum since February. At the same time, in April goods were being stored at the warehouses for 1.12 months, which is the lowest.
Recommendations: we recommend making trade decisions following the release of the FRS decision. Market is at loss after Friday Labor market review and the results of the FRS meeting are likely to become the major fundamental signal for market dynamics.
Recommendations: we recommend making trade decisions following the release of the FRS decision. Market is at loss after Friday Labor market review and the results of the FRS meeting are likely to become the major fundamental signal for market dynamics.
The forecast was created by trans1.
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