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Forex · News · Forex Forecasts

NEWS / Forex Forecasts

USDCHF, USDCAD All market’s players wait for publication of key data of week...

14:16 09/29/2006

So, experts again point out that despite yesterday publication of rather not positive data, the rate of the American currency remains stable.

Moreover, already today at the European session the dollar made the next attempt of growth, which was successful.

Let's remind that, according to yesterday's data, final value of GDP index in the USA for the second quarter, 2006 made +2.6 %, at the forecast of +2.9 %, and the refined value of +2.9 %.

Other data - on jobless claims in the USA for a week by September, 23rd were almost at a level of forecasts. Value of a parameter made 316 thousand, at the forecast 315 thousand. However, thus the previous value is revised from 318 thousand up to 322 thousand.

And help-wanted index in the USA made 31 for August, at the forecast 32, and the previous value 33.

Let's notice that though all the parameters published yesterday were more weaker than expectations, the dollar "did not wish" to decrease. Analysts consider expectations of a positive in today's data of the first world economy as the main reason of this stability. The importance of these data is difficult to overestimate.

Let's remind that at 12:30 GMT there will be published:

- Personal incomes in the USA for August. The forecast is +0.4 %, and the previous value was +0.5 %;

- Personal spending in the USA for August. The forecast is +0.2 %, and the previous value was +0.8 %.

Later, at 13:45 GMT final value of University of Michigan consumer sentiment index in the USA for September will be published. The forecast is 84.4, and the previous value was 84.4.

And at 14:00 GMT, Chicago Purchasing Managers index in the USA for September will be issued. The forecast is 56.5, and the previous value was 57.1.

It is also necessary to notice that data on the European economy also leave much to be desired. Unemployment in France made 9.0 % for August, at the forecast of 8.8 %, and the previous value of 8.9 %.

And producer prices index in Italy for August made +0.2 % for a month, +6.6 % for a year, at the previous value of +0.9 % for a month, +6.9 % for a year.

Parameters were worse than forecasts and put pressure upon the euro rate.

Taking into account importance of today's publications, we recommend to adhere to our last recommendations: to keep earlier opened dollar/franc and dollar/canadian sales.

Thus, taking into account an opportunity of emotional splashes before, or during publications of data, it is necessary to lift protective stop on the dollar/franc rate above a level 1.2620.

On the dollar/canadian rate we also expect continuation of descending movement, however we do not exclude probability of small recoil of a rate.

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19/12 21.15
TickerBidAsk
USD/CHF1.15601.1562
GBP/USD1.99541.9956
USD/JPY113.4100113.4300
EUR/USD1.43521.4354
AUD/USD0.85770.8581
USD/CAD1.00521.0056
EUR/GBP0.71920.7194
EUR/CHF1.65951.6599
EUR/JPY162.7900162.8300
GBP/JPY226.3000226.3600
GBP/CHF2.30702.3080
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