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Forex · News · Forex Forecasts

NEWS / Forex Forecasts

USDCHF,USDCAD Today's series of data over American economy can affect further situation on market

21:32 06/13/2007

So, despite stability of the British pound against other currencies the dollar shows enviable stability.

Let's remind that yesterday on results of the tenders the euro/dollar rate decreased almost by 85 points and for the first time for last two and half months reached a level 1.3285.

 

Experts point out that a dollar exchange rate is still supported by growth of yield of the state notes of the USA which yield achieved a maximum level almost for three years. We notice that 30-years notes showed the highest yield.

It is remarkable that thus even weakness of the American stock market cannot change the attitude of market players to the American currency.

 

Publication of data of the federal budget in the USA for May was almost ignored yesterday. We remind that the parameter made -67.7 billion dollars, at the forecast-62.0 billion dollars, and the previous value +177.1 billion dollars.

 

Today at 12:30 GMT the attention of all market players will be directed to the publication of following data:

 

- the index of retails in the USA for May. The forecast of +0.6 %, the previous value -0.2 %;

- the index of retails ex auto-sales in the USA for May. The forecast of +0.8 %, the previous value of 0.0 %;

- import price index in the USA for May. The previous value of +1.3 %;

- export price index in the USA for May. The previous value of +0.3 %.

 

Later, at 14:00 GMT the index of inventories in the USA for April will be issued. We remind that the forecast of the indicator is equal to +0.2 %, the previous value is -0.1 %.

And then, in the end of today's tenders at 18:00 GMT the publication of “Beige book” is planned.

 

While the situation around the further vector of movement of currencies continues to remain uncertain. Market’s reaction to today's publications can prompt to further dynamics of the basic currencies. However it is necessary to consider releases on inflation as key data of week Friday.

We recommend to keep waiting position.

 

 

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