Monday, November 13, 2006

The EUR/USD kickback toward 1.2800 is possible

“We have come to maximums of EUR/USD. Further movement is unlikely to take place”, Artem Enshin, NorthFinance analyst considers. “At the middle-term rate, current resistance levels will not be surmounted, the kickback to 1.2800 is possible. As for British pound sterling, the currency is close to its maximums and preserves substantial potential at this stage.

Gold continues its quality rise. I consider, it will further rise toward $660/oz. Oil prices have been around %60/a barrel for a month and two weeks, the changes are not expected.

The week is rich in news:

Thus, today we expect the UK data for October. The producer price index (output and input) was down last month by 0.3%, having decreased for the first time since December 2005. The producer price index (output) was 0.3% in a month and 1.8% in a year. The input September indicator was -1.8% and 5.2%, in a month and year respectively. The major reason for producer prices’ fall was the considerable reduction of energy prices during the period under report.

On Wednesday, the ILO Jobless rate in Great Britain for three months of September is published. The preceding reading was 5.5%.

On Thursday, Eurostat publishes its data on harmonized CPI. The index was 0.0% in September.

US TICS is also published on Thursday. The volume of assets’ purchases was up to 116.8bln in August, against 32.9bln in July. The analysts expect index reduction to 62.5bln in September”.

0 Comments:

Post a Comment

<< Home