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Forex · News · Forex Forecasts

NEWS / Forex Forecasts

Market’s daily review

11:47 02/09/2006

On Wednesday the American currency rose against the basic currencies.

A dollar exchange rate was supported by the statement of FRS former chairman Greenspan at the soiree, organized by Lehman Brothers company.

Greenspan said that the American economy is in a good condition, at the same time an estimation of a possible maximum of the interest rate level in the USA, prevailing in the market, in a current business cycle is, probably, underestimated.

 

The Japanese currency dipped against dollar on Wednesday, but keeps the most part of the profit received before two-days meeting of Bank of Japan. It is connected with speculations on probable change of a current policy of ultralow interest rates by Bank of Japan.

 

The pound rate is under some pressure of weak data on a level of industrial production in the UK.

The data, published by the National statistical bureau of Great Britain on Wednesday, testify to that production in a manufacturing industry was up 0,3 % in December in comparison with November.

According to the revised data in November, growth of this indicator made 0,5 %. Against December, 2004 production in a manufacturing industry was down 2,2 %.

In November the same annual drop in this indicator was observed. Analysts predicted less significant annual drop in production in a manufacturing industry in December - only on 1,8 %.

Monthly growth of production in a manufacturing industry, and also some other data, testify to increase of activity of industrial sphere of the UK.

 

The ISM index in the industrial sphere, published last week, rose up to 51.7 in comparison with 51.3 in January that says about expansion in this sector.

In December growth of the index was also observed.

 

According to data of the Federal bureau of Statistics of Germany, the balance of the balance of payments of Germany was up 6.3 billion euro in December against proficiency 8.2 billion euro in November and 6.5 billion euro in December, 2004.

Trade proficiency of Germany was up 9.2 billion euro in December against 13.3 billion in November and +10.8 billion a year ago.

For the whole 2005 balance of the balance of payments was 90.4 billion euro against 84.5 billion in 2004, and trade proficiency 160.5 billion euro from 156.1 billion euro last year.

German export went down 66.6 billion euro from 71.5 billion in November, but went up 59.7 billion in December of the last year.

The total import made 57.41 billion that is less than 58.2 in November, but above 48.9 billion in December, 2004.

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