Friday, January 12, 2007

Forex News: 12.01.2007 NorthFinance: U.S. Federal budget will affect the dollar trend

"U.S. federal budget is the most interesting news after ECB had decided to hold the rate steady yesterday. Growth of the figure in two times as compare with previous month is expected widely. The most optimistical forecasts intend to 40 bln. dollars", - Sergey Popov, NorthFinance financial analyst announced.

If the published federal budget below 11 bln. dollars, it can be expected a significant fall of the dollar to other exchange pairs. Possibly, the deficit of budget will narrow slightly. It is caused by seasonal fluctuations, including warm winter period and falling of gasoline prices.

Another one interesting news is the U.S. retail sales index. The growth of the figure is expected following Christmas sales and huge amount of purchases. Import-export prices will remain steady and can not cause special interest.


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