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Forex · News · Forex Forecasts

NEWS / Forex Forecasts

Market’s daily review

11:47 03/20/2006

Friday data over the USA could not support the American currency.

The expectation that the US interest rate level will not grow so quickly any more as last year, also influences negatively on a dollar exchange rate.

 

As it became known from the University of Michigan research in March consumers’ sentiment in the USA have remained at a former level 86.7 that is minimal since November.

Economists expected growth of the indicator up to 89.3.

 

On Friday, the Federal reserve system of the USA informed that industrial outputs in the USA in February was up 0,7 %.

According to the refined data in January industrial production in the USA was down 0.3 % whereas earlier it was informed on reduction on 0.2 %.

Growth of production was expected on 0.8 % in February.

capacity utilization in the USA for February climbed up to 81.2 % that is the top since September, 2000.

The indicator for January has been revised from 80.9 % up to 80.8 %.

According to the economists’ forecast capacity utilization should have made 81.4 %.

 

In its turn, the euro rate against the dollar has been maintained by high value of the manpower costs index in Europe (12) for the fourth quarter of the last year.

 

The manpower costs index in Europe (12) for the fourth quarter made +2.4 % for a year at the forecast of +2.2 % y/y.

The previous value has been revised from +2.2 % up to +2.3 % for a year.

 

The index of industrial production in Europe (12) for January made 0.0 % for a month, and was up 2.5 % concerning January, 2005.

Data were below analysts’ forecasts.

Economists forecast industrial production to rose 0.5 % in January in comparison with December and 2.8 % y/y.

Eurostat agency has revised data on industrial outputs in December from 0.1 % m/m up to 0.2 %.
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