Forex News: The prospect of EUR/USD pair is 1.3500 for a week
Forex NewsBy the present moment euro keeps the positions which were conquered the last month. The prospect of the week concludes in a 1.3500 mark of dollar for euro with the subsequent purpose to overcome this level on the mark of 1.3700, - comments Artem Enshin, NorthFinance financial analyst.
I suppose the correction up to the mark of 1.3200, but I am considering, that in the nearest future it must not occur.
There are several significant macroeconomic indicators will be published this week:
Today is expected Oct. Eurozone PPI index. Last month index has dropped 0.5 %. Reduction of manufacturers prices in September is caused, first of all, by falling of the energy prices for 2,5% at once, says agency Eurostat. The increasing of prices for 0.2% is planned this month.
Tomorrow will be published Oct. Eurozone retail sales index. Analysts are in expectation of a substantial growth of this parameter from -0.6 % up to +0.4 %. The level of interest rate will be considered in Canada.
Important news will appear on Wednesday. At first, we will be able to learn about industrial production in the UK. Analysts forecast the factor to stay on its constant level. Germany manufacturing orders also can cause the interest. The increase of the index from -2.5 % up to 1.0% is expected. Furthermore the share of attention will be received with a news about the level of interest rate in New Zealand.
Participants of market Forex will be excited with int consideration of interest rate in UK and Eurozone. I think, that rates will remain constant. Traditionally, on this day will be published U.S. jobless claims. Economists predict the drop of the index in compare with the last week for 37K to 320К.
Germany trade balance will known on Friday. But basic events of Friday will begin during the American session, when will be published Nov. nonfarm payrolls and unemployment rate. These factors can present surprises in conditions of a strict volatility of the market. I think, on the market will be a significant change of a dollar exchange rate after the output of these data, - says Artem Enshin, NorthFinance analyst.
posted by Kalin Tasev @ 12:27 PM
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