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Forex · News · Forex Forecasts

NEWS / Forex Forecasts

USDCHF,USDCAD After yesterday's falling dollar continues to remain vulnerable...

11:47 11/23/2006

So, today in the USA and Japan is the day off – Thanksgiving Day because of what all the financial markets in these countries are closed. And yesterday's trade was in an atmosphere of decrease in a rate of the American currency. We remind that "greenback", having started to decrease at the European session, continued rally at the American one.

Let's remind that a push for dollar sales against all basic currencies became data from the US Department of Labor, which informed yesterday on that the jobless claims increased 3.9 %, or 321 thousand for the last week that was more than forecast.

 

A dollar exchange rate was under additional pressure yesterday also of data on final value of university of Michigan consumer sentiment index for October. We remind that value of the parameter made 92.1, at the forecast 92.3, and preliminary value 92.3.

 

Besides the rate of euro against dollar got additional support after the statement of Eurocommission chairman Junker that the current rate of the European currency does not influence negatively on economy of Europe (12).

Let's also remind that preliminary value of GDP index in Germany for the third quarter 2006 made +0.6 % for a quarter and +2.3 % for a year, at the forecast of +0.6 % for a quarter, +2.3 % for a year, and the previous value of +1.1 % for a quarter, +1.3 % for a year.

 

Above forecasts there was an index of business activity of German institute IFO in the Western Germany for November, published today. We remind that value of a parameter made 106.8, at the forecast 105.1, and the previous value 105.3.

Thus current account in Europe (12) for September made -0.8 billion euros, at the previous value -2.1.

 

We recommend to adhere to our last recommendations: to open long-term sales of the dollar/franc rate at the levels stated yesterday right after small up correction of a rate.

On dollar/Canadian opened yesterday "shorts" should be kept. In case of continuation of growth of the pair it is necessary to strengthen earlier opened sales.

Long-term objectives of these sales also hold good.

 

 

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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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