Friday, December 22, 2006

Forex News: 22.12.2006 Fine prospect of euro for the next week

“The most interesting news will be published during the American session”, Sergey Popov, NorthFinance financial analyst says, “Today the index of durable goods orders and index of personal income and spending are published.

If personal income is down while personal spending is up, as analysts suggest, and PCE price index ex food and energy is above expectations, we may expect interest rate rise at the next FOMC meeting.

Following this news, consumer price index in Germany is published. The Michigan sentiment index is to define general direction. Considering this week’s statistics, the index is to drop to the level of 87.

This week’s closing of EUR/USD above 1.3260 indicates fine prospect of euro for the next week as well as the continuation of its growth to 1.3450.”


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