Friday, December 15, 2006

Forex News: 15.12.2006 EUR/USD disruption of 1.3130 indicates the continuation of correction

“After the publication of US data yesterday, dollar gained slight support: the indicator of business activity was above expectations, while jobless claims slightly fell. However, it did not fasten up the movement at the Forex market”, Georgiy Fedotov, NorthFinance financial analyst says.

The index of industrial production in Europe in October is published today. In the preceding month, the index was -0.1%, but the analysts expect it to increase by 0.5%. The index of industrial production is one of major indicators, reflecting the condition of national economy. The substantial growth from minus level of the preceding month may consolidate euro position toward other currencies.

The consumer price index in the USA is also published today. The analysts expect substantial increase, from -0.5% to 0.2%. The index of industrial production in the USA in November may fall from 0.2% to 0.1%, while the index of capacity unitization may add 0.1% to 82.0% of the preceding reading.

EUR/USD disruption of 1.3130 will indicate the continuation of correction, while the disruption of 33 will say of the ascending trend.”


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