| EURUSD, GBPUSD. Market is in a condition of balance on background contradictory news |
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19:23 06/15/2007 |
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On a background varied fundamental news the eurodollar quotations continue to be quoted in a narrow corridor by the end of current week.
The European currencies are supported by positive data over Europe, published on the eve:
Deficit of current account of France in April made 0,8 billion euros against the revised indicator for March 1,9 billion euros, Bank of France informed. Earlier it was informed that in March deficit of current account was 2,1 billion euros. 12 months prior to April deficit of current account of France made 22,0 billion euros.
Prospects for Eurozone economy for last years are the best, a member of ECB Governing Council Miguel Angel Fernandez Ordonez declared. Investments will continue to grow in Eurozone, taking into account favorable financial conditions and also high profit of the companies whereas household charges will grow due to the confident increase in employment.
Inflation in the Eurozone in 2007 and 2008 will make about 2 %, but it is impossible to exclude probability of that high rates of economic rise will lead to wage-push and will strengthen ability of the companies to dictate the prices.
Among one more risks of rise in prices Ordonez pointed out oil prices. "This year ECB proceed watching attentively inflationary risks and development of an economic situation in Eurozone", - Ordonez declared who is the Head of Bank of Spain.
Over the USA: The jobless claims did not change on results of the last week that did not give an occasion for traders for active actions on this news.
Initial jobless claims remained without changes a week prior to June, 9th. Claims are at a top since May, 19th. Average four-week value was up 3,750 to 311 250 - a maximum since May, 5th. Economists prefer to build forecasts basing on this parameter as it is more smoothed than week data. The number of the people who claimed repeatedly fell by 43 000 to 2,49 million a week prior to June, 2nd - the minimal value for 2 weeks. Average value for 4 weeks made 2,50 million.
Today the next block of news over the United States data on retail prices, production and volumes of investment in the US economy is expected. However quotations strengthened at a strong level of resistance near a level 1, 325.
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