Tuesday, February 13, 2007

Forex News: 13.02.2007 Confident breakout of EUR/USD will indicate the tendency of developments

“Today the attention is dwelled on two indicators: ”ZEW economic expectations index in Germany and International trade in the USA”, Georgiy Fedotov, NorthFinance financial analyst says.

“ZEW economic expectations index in Germany unexpectedly increased in the preceding month and was -3.6. In February it is expected to rise substantially again, by 9. The economists consider that the index rise is largely connected with the improving conditions at the labor market and positive expectations regarding the growth of personal income.

The index of international trade in the USA is expected to be -59.6 in December. November reading was -$58.2bln.

Hopefully the data is to influence dollar rate toward euro, as the pair has been traded in narrow range of minimum 1.2864 and maximum 1.3065 for a month.

Confident breakout to either side will indicate the tendency of developments. We expect the pair leaves the corridor,” the analyst admits.


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