Russian English German Italian Spanish Portuguese Chinese French Japanese Korean
NEWS DIRECTORY FORUM FINANCIAL FORECASTING FOREX GUIDE
Members access
Email:
Password:
home based business opportunity

Sign up now.
Forgot password?

Choose Category
 Forex Forecasts
 USMarket
   
   INFORMATION
 About
 Business support
 Feedback
 Forex informers
 Easy Forex
 Glossary
 Forex Market
 Forex Brokers
 Forex Trading

Customer quotes
[an error occurred while processing this directive]
D

Contact

  Email: click here
  Tel: +1 312 2390929

Forex · News · Forex Forecasts

NEWS / Forex Forecasts

USDCHF,USDCAD On Monday dollar got unexpected support from Japanese politician...

09:43 11/14/2006

So, after renewal of decrease from the beginning of the week tenders the dollar soon got unexpected support from the party Japanese official.

Let's remind that one of heads of Liberally-democratic party in Japan Nakagavy said that he objects to increase of a level of the basic interest rates in the country as deflation is still kept in the country.

As a matter of fact, this statement contradicted numerous statements of representatives of Bank of Japan, supporting the further toughening of a credit policy in the country and consequently became unexpected for the market and caused intensive dollar/yen purchases from players.

As a result within some hours the dollar/yen rate grew more than 100 points and created preconditions for growth of a dollar exchange rate against other basic currencies.

 

Let's remind that in the end of the last week the dollar tested strong pressure from the statement of the head of National bank of China that the bank plans to lead diversification of the currency reserves estimated in $1 billion.

Thus, according to the main banker the government of the Chinese Peoples Republic plans to transfer its reserves in various currencies and investment projects, including in developing markets.

 

Such statements not only put pressure upon the dollar, but also support the Japanese yen against other basic currencies. Besides economists do not exclude that central banks of Russia, Switzerland, the United Arabian Emirates and other states can make such steps. And experts assume that some of these central banks can transfer a part of their reserves in the Japanese currency.

Yesterday the market was told that the Japanese investors have already changed a share in their assets from the American currency in favor of the British pound, euro and the Australian and New Zealand dollars.

It is remarkable that the publication of the Federal budget in the USA for October, being in line with expectations, was not practically affected a situation around the basic currency pairs. We remind that value of a parameter made -49.3 billion dollars, at the forecast -49.3 billion dollars, and the previous value +56.0 billion dollars.

 

Today participants of the market expect great volume of the important macro-economic information. So, at 10:00 GMT the publication of two major European parameters is planned:

 

- Index of business expectations of German center of economic researches ZEW in Germany for November. The forecast -24.5, the previous value -27.4;

- The forecast for preliminary value of GDP index in Europe (12) for the third quarter. The previous value was +0.9 % for a quarter, +2.7 % for a year.

 

And then, at 13:30 GMT some parameters on the first world economy will be published:

- Producer price index in the USA for October. The forecast -0.5 % for a month, the previous value -1.3 % for a month, +0.9 % for a year;

- Producer price index excluding food and energy prices in the USA for October. The forecast of +0.1 % for a month, the previous value of +0.6 % for a month, +1.2 % for a year;

- Retail sales in the USA for October. The forecast is -0.3 %, and the previous value was -0.4 %;

- Retail sales ex auto-sales in the USA for October. The forecast is -0.1 %, and the previous value was -0.5 %.

 

Later, at 15:00 GMT – inventories index in the USA for September. The forecast is +0.5 %, and the previous value was +0.6 %.

 

These data will point out the further direction of a market vector. We remind that it is expected the further drop in a dollar exchange rate and consequently we recommend to keep sales of rates dollar/franc and dollar/canadian.

It is impossible to exclude however that the unexpected positive of the above-stated data will lead to short-term growth of a rate "greenback", that, in turn will allow to strengthen earlier opened "shorts" but from already higher levels.

 

 

* Printer-Friendly Version * Send This Page * Add to Favorites * Comments
Prev All News Category News Next

World Time
Calendar
 November, 2006
Sun Mon Tue Wed Thu Fri Sat
      01 02 03 04
05 06 07 08 09 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30    
ADV
Forex NewsAdvertise
Resource
Forex Forex Guide
Forex Analysis Forex News
Forex Broker Foreign Exchange
Forex Directory Russian Forex
World Market
Market Snapshot
Stock Quotes

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
Forex â êðàñíîäàðå
Forex â êðàñíîäàðå
Major world indices

| Forex Trading | Business catalog | China Real Estate | Forex Broker | Forex Market | Forex Forum | Investing resources |
© Copyright 1998-2006 OpenForex.com - forex trading, brokers, financial forecast