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Forex · News · Forex Forecasts

NEWS / Forex Forecasts

Market’s daily review

11:47 01/25/2006

On Tuesday on a background of improvement of a situation in the world stock markets the American currency, caused by oil prices cut, poised a little after a great falling on Monday.

 

Let's remind on Monday the dollar decreased after the comments of FRS representatives, assuming the fast termination of rates increase.

 

The single European currency has got short-term support after the release of the European factory orders data.

The data were better than the forecasts that became one more confirmation of economic restoration in a region. This, in its turn, increases the probability of ECB interest rate rise in March.

 

According to the Confederation of British Producers, orders in sector of a manufacturing industry have gone down to a minimum for 5 months in January on a background of demand letdown and growth of the cost price.

According to the economic survey of the Confederation of British Producers, the balance of factory orders of the UK made -28 % for January against -22 in December, and forecasts -20. It means that the companies-manufacturers, which the orders’ volume rose, are 28% less than companies which the orders’ volume went down.

The export orders index made -10 against -23 in December, having reached the highest level since August, 2004 when it made -8.

 

The consumer price index of Bavaria land in Germany for January made -0.3 % for a month, +2.4 % for a year against the previous value of +0.9 % m\m, and +2.3 % y\y.

 

The consumer price index of Brandenburg land in Germany for January made -0.3 % for a month, +2.5 % for a year.

The previous value made +0.9 % for a month, +2.4 % for a year.

 

According to ECB data in November the corrected deficiency of balance on current account in Eurozone extended up to 10.1 billion euro in comparison with 7.4 billion euro in October.

October value has been revised from the previous estimation 9.0 billion euro.

Thus, in November the deficiency was registered the fifth month successively.

According to ECB in November deficiency of balance on current account made 20.3 billion year over year.

 

The volume of factory orders in Eurozone climbed 4.9 % in November to October and increased 9.2 % y\y, Eurostat has informed.

The growth followed decrease in October on 0.6 % for a month and growth only on 4.3 % for a year.

On the economists’ forecasts the orders volume should risen 1.2 % in comparison with the last month and 4.1 % in comparison with November of the last year.

Factory orders in France have increased 20.4 % for a month.

 

On Tuesday the Bank of Canada Board meeting took place. As well as the majority of economists expected the bank decided to raise the basic interest rate on overnight credits on 0.25 % up to a level of 3.50 %, maximal since October, 2001.

The given increase of the rate became the fourth in a row.

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