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Forex · News · Forex ForecastsNEWS / Forex Forecasts |
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EURUSD, GBPUSD. Euro has practically won back losses of yesterday...
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11:47 10/23/2007
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The euro has practically won back losses of yesterday after representatives of the European Central Bank let know yesterday that ECB rate can be raised as the European economic statistics shows quite good prospects of rates of growth of Eurozone economy.
Industrial orders in the Eurozone in August were up 0,3 % m/m and up 5,1 % y/y according to Eurostat data.
Annual growth of orders in August slowed down. Less transport equipment new orders in August grew by 0,3 % m/m and 6,3 % y/y.
July data were revised upwardly, -2,6 % in comparison with the last month and +12,0 % in comparison with July, 2006 against - 4,0 % m/m and + 10,9 % y/y.
Industrial orders - the leading indicator of industrial production in the Eurozone and can be used for an estimation of the general economic activity in the Eurozone.
The dollar was under pressure of expectations of decrease in FRS interest rate, which amplified on a background of the next series of negative news over the USA.
According to data of the US Department of Labor the number of dismissals increased in September up to 123 656 and up to 118 120 in August. According to Richmond Federal Reserve Bank the index of business activity in October in industrial sector decreased to -5 points against growth in September up to 15 points.
As a whole, despite yesterday's dollar-favorable technical correction market's tone is still against dollar.
However, in process of approach of date of FOMC meeting on which there will be solved a question on the rate, activity of the tenders in the market will decrease.
Therefore while we remain outside the market.
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