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Forex · News · Forex Forecasts

NEWS / Forex Forecasts

Market’s daily review

11:47 02/16/2006

The American currency rose at tenders on Wednesday against the basic world currencies after FRS chairman Ben Bernanke hinted that the Central Bank would raise discount rates, at least, two times this year.

However within the day the dollar exchange rate was under pressure because of the data, which showed decrease in foreign investors’ interest to the American assets.

 

As the US Exchequer Department informed foreign purchases to the USA reduced to $56.6 billion in December after they reached the revised $91.6 billion in November.

Reduction was basically happened because of cut of exchequer bonds purchases by private investors. Investors bought $12.7 billion exchequer bonds in December against $50.8 billion in November.

 

Industrial outputs in the USA in January dipped unexpectedly after a record production cut of the municipal enterprises while the manufacturing industry showed strengthening the fourth straight month.

As the US Federal reserve system informed industrial outputs in the USA were down 0,2 % in January while capacity utilization increased.

According to the refined data in December industrial production in the USA was up 0,9 % whereas earlier it was informed on growth on 0,6 %.

Capacity utilization made 80,9 % in January against 81.2 % in December (the peak since September 2000).

 

As the report showed the manufacturing industry of New York State spurted unexpectedly in February as sales volumes and orders have raised.

The total NY Empire State Index climbed up to 20.3 against 20.1 in January.

Economists forecast the indicator of 18.

 

In turn, the British pound continued its drop in spite of the fact that the report of Bank of England on inflation was more optimistical than it was expected.

According to this report the inflation rate in Great Britain will be about a mark of +2.0 % the nearest two years.

Inflationary expectations are a little bit above at the moment than it was predicted in November of the last year.

 

The jobless claims in UK were down 2 000 in January, and this falling was observed for the first time for a year as the National bureau of statistics of Great Britain informed on Wednesday.

The total jobless claims made up 904 200 against 906 200 in December. The bureau informed earlier on 909 100 claims in December.

The unemployment rate made 2,9 % - as well as in December.

Economists assumed that the jobless claims were up 7 500.

 

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