Monday, December 11, 2006

Forex News: In prospect, pound sterling aim is 2.0000

Forex News

"Now we are observing the correction and expecting the continuation of ascending movement of the pair EUR/USD. The first level is 1.3364 (last "high" of euro), and the next levels are "highs" of December, 2004, - George Fedotov, NorthFinance financial analyst comments.

“Almost the same picture is observed on the British pound; with the difference that pound has covered maximums of 2004 long ago. In perspective, pound sterling aim is 2.0000.

The index of nonfarm payrolls in the USA was better than its forecasts (132К), but Michigan sentiment was below expectations (90.2). And although, the US minister for finance emphasized in his statement that the economy of country developed steadily, it did not provide serious support to dollar.

Today it is important to pay attention to the balance of trade in Great Britain (Trade in goods). In the preceding period under report, the reading was -6.56, an increase to -6.50 is expected. The index of wholesale inventories in the USA is also published today. The reduction to 0.6% from 0.8% is expected. “


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Pound Sterling

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