Tuesday, December 12, 2006

Forex News: 12.12.2006 Statistic data are important today

"As it has been said earlier, the premises for finishing of the correction and continuation of a rising trend are forming at the present time. The support levels are clear now", - says NorthFinance financial analyst Georgiy Fedotov.

The ex-chairman of U.S. FED Alan Grispen has declared that there are all reason for a long falling of dollar rate. Forex market reacted on this statement by small decreasing of american currency.

The publishing of important statistic data is expected today. The first will be announce–≤ Germany ZEW economic expectations index in December. This index reflects the confidence of the german companies in the present economic situation for nearest six months. In November the index was -28.5 points, the analysts forecast increasing of confidence to -24.8.

At 13.00 will be published Eurozone current account balance in the third quarter and at 16.30 the output U.S. international trade balance output is expected. The growth of the indicator to -63.0 bln. is forecasted in October compared with -64.3 bln. in the previous month.

At 22.00 in the evening will be published Nov. U.S. federal budget. Analysts forecast a significant raise of the budget deficit to -73.7 bln. In October the deficit of the budget formed -49.3 bln. At the end will be declared the decision of U.S. FOMC meeting concerning interest rate. Much more likely, the base rate will remain on its former level, but it is important to know in which way the FED members will characterize the economy of the country".

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