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Forex · News · Forex Forecasts

NEWS / Forex Forecasts

Market’s daily review

15:16 05/03/2006

At yesterday's tenders the American currency lost a part of its positions, won on Monday.

A dollar exchange rate is under pressure of hike of the world oil prices.

In its turn, the data testifying to growth of business level in Eurozone and Great Britain, support rates of the European currencies.

 

The manufacturing industry in Eurozone in April showed the fastest rates of growth for more than 5 years, giving ECB more bases for interest rates increase to resist inflation.

The business index in Eurozone in April grew up to 56.7 against 56.1 in March. It became the highest indicator since September, 2000.

Economists forecast growth up to 56.8.

 

The business index in Italy for April made 57.0 against the previous value 55.5.

 

In France business index in April also rose up to 55.3 from 54.6 in March.

 

The business index in Germany for April made 58.1

 

In Great Britain the sector of a manufacturing industry in April also showed the maximal rates of growth for almost one and a half year.

So the business index in a manufacturing industry in Great Britain in April raised up to 54.1 against 51.0 in March

April index was above the analysts’ forecasts, expected growth of the given parameter only up to 51.3.

 

According to data of the review of the British confederation of manufacturers, the balance of volume of retail sales for April in Great Britain made +2 % at the forecast -11 %.

The previous value made -16 %.

 

As the British Association of the Bankers informed the approved applications for the mortgage in March have reached the maximum level for almost two years.

The number of the approved mortgage applications made 85.698, that is much above February indicator of 57.585 and is the highest parameter since June 2004.

Data confirm that the British housing market is being restored, that in its turn gives the basis to members of Committee of Bank of England to not reduce interest rates in the nearest months.

 

Data also showed high growth of volumes of mortgage lending for March on 17.7 billion pounds, that is above February parameter 14.0 billion pounds.

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