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Forex · News · Forex Forecasts

NEWS / Forex Forecasts

EURUSD, GBPUSD. Dollar keeps falling.

11:47 09/28/2007

The dollar approaches slowly and firmly a mark 1,45 on euro. Today the price of 1,42 dollars for euro has already been tested.

 

Bundesbank - the state bank of Germany raised the forecast concerning euro rate up to the end of year from 1,35 up to a level of 1,45 dollars for euro. In calculations risks of falling of rates of the US economical growth and also the increased probability of that FRS will reduce the rate at the next meeting, were considered.

 

Stock exchanges of the USA opened with downturn on Friday as investors continue to worry about consequences of delay of global economic growth. According to CMC Markets Dow Jones Industrial Average index opened with downturn by 30 points at a level 13,882, S&P 500 index fell by 2.2 points to 1529.1, and Nasdaq 100 index went down by 6 points to 2090.

 

The European markets also dipped owing to proceeding anxieties on how crisis in the crediting market will be reflected on bank sector and sector of crediting. London index FTSE 100 was down 0.6 % to 6445.60. DAX index lost 0.2 % and made 7840.23.

Small improvement of the economic situation according to the next fundamental data over the USA weakened pressure upon dollar. Chicago Purchasing Managers' Index grew up to 54,2 points in September from 53,8 points in August.

 

On the open positions: stop on euro is placed higher, at fixed profit, at a level 1,4099.

 

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