Wednesday, February 14, 2007

Forex News: 14.02.2007 EUR/USD fixed at month maximum

“After release of international trade in the USA yesterday, which was far below expectations, EUR/USD rate rushed upwards and fixed at its month maximum”, Georgiy Fedotov, NorthFinance financial analyst says.

“Let us remind that the deficit of international trade achieved its record maximum for a year and was $61.2bln.

In case of confident breakout of 1.3070, the nearest aims are 1.3118, 1.3160, and further 1.3270”, NorthFinance analyst considers.

American currency is pressed by high oil prices and strong macroeconomic data for the euro area, as well as by EUR/GBP and national currencies of Canada, New Zealand and Australia.

Today Ben Bernanke speaks at the Congress. It is also important to note the release of quarterly report of BoE, claimant count rate in Great Britain, as well as the index of retail sales and business inventories in the USA.


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