LiteForex - Forex trading account from 1$

Friday, September 14, 2007

Dollar Strengthens on Average Economic Data

EUR/USD is closing below 1.3900 level after a major rally earlier this week. The main driver for the growth were the market expectations for the FOMC to lower the interest rates by at least 0.25% next week, while last two days' correction can be a reflections of some less confident traders, that are sure that if FOMC won't lower rates or will stay with 0.25% decrease for a longer period, then markets will have to play back current growth. Lack of surprise data helped the second type of traders today.

U.S. export (excluding agricultural) and import (excluding oil) prices changed by 0.1% and -0.1% respectively in August, while July brought -0.2% and 0.1% respectively.

Retail sales were up by 0.3% in August, which is lower than both July growth by 0.5% and the same expected value for August.

Industrial capacity utilization in August remained at the 82.2% level as it has been in July, while the market was expecting decline by 0.2%.

Manufacturers' and trade business inventories rose by 0.5% in July compared to 0.4% growth in June. This is a slightly more optimistic number than 0.3% growth expected by the market.

Labels: , , , , ,

AddThis Social Bookmark Button

0 Comments:

Post a Comment

<< Home

FXOpen - Forex at its Best