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Forex · News · Forex Forecasts

NEWS / Forex Forecasts

USDCHF,USDCAD Market acts selectively, noticing only a positive for the American currency...

15:59 11/17/2006

So, on a background of great volume of publication of the important economic statistics yesterday the basic currency pairs reacted sensitively to information, remaining, however, within the limits of trading ranges.

 

Let's remind that these data were varied. So, data on a level of consumer prices in the USA for the October, testifying to decrease in a rate of inflation in the USA, put pressure upon a rate of the American currency.

So, the consumer price index in the USA made -0.5 % for October, at the forecast -0.3 %, and the previous value -0.5 %.

And core consumer price index in the USA made +0.1 % for October, at the forecast of +0.2 %, and the previous value of +0.2 %.

Experts notice that decrease in a general meaning of the index in October was promoted by falling of energy prices by -7.0 % while the core index tested on itself reduction of prices for clothes which made -0.7 % against +0.6 % in September, and also reduction of prices on new cars on -0.1 %, air tickets -1.4 % and medicines -0.2 %.

 

Another indicator – jobless claims in the USA for a week by 11.11, being almost at a level of expectations, did not influence significantly on a market situation. We remind that value of the indicator made 308 thousand, at the forecast 309 thousand. And the previous value is revised from 308 thousand up to 310 thousand.

 

It is remarkable that positive yesterday's publications were not ignored by players. So, industrial production in the USA made +0.2 % for October, at the forecast of +0.2 %, and the previous value-0.6 %.

The given parameter though was at a level of forecasts, but confirmed stability in the given sphere of the American economy.

And the capacity utilization in the USA made 82.2 for October, at the forecast 82.0. And the previous value is revised from 81.9 up to 82.1. Experts note that the parameter was not only better than the forecast, but also its previous value is revised upwardly.

 

In economists’ opinion TICS data were also positive. In spite of the fact that the volume of purchases by foreign investors of the American assets in September decreased in comparison with the previous value of +97.1 billion dollars to +53.7 billion dollars, another indicator - volume of purchases of long-term assets in September, is considered more significant.

So, September value of the given parameter made +65.1 billion dollars, at the previous value +114.4 billion dollars. Economists point out that the volume of purchases of long-term assets in September covers the US trade deficit which made 64.3 billion dollars in September.

 

One more economic indicator among published yesterday was in positive area for the first time for last three months, and also exceeded analysts’ forecasts.

So, Philadelphia Fed index in the USA made 5.1 for November, at the forecast 5.0, and the previous value -0.7.

 

And today in focus of attention of the market’s participants there will be data on building sector of economy of the USA which publication is planned at 13:30 GMT:

- housing starts in the USA for October. The forecast 1.690 million, the previous value 1.772 million;

- building permits in the USA for October. The forecast 1.625 million, the previous value 1.619 million.

 

Unfortunately, "shorts" on the dollar/canadian, opened at a level 1.1330, was "stopped" today by protective stop at a level 1.1430. Dollar/franc sales should while be closed also at current levels (1.2510).

It is necessary to consider current growth of a dollar exchange rate as no more than correction. This correction, as a result, then will help to open new long-term sales of rates, but already from higher levels.

While it is necessary to be outside the market.

 

 

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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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