Discussion in 'Forex' started by pere, Nov 24, 2006.

  1. pere


    The EUR is holding its 5 month high against the US Dollar after better than expected data was released yesterday, suggesting that the Euro Zone interest rate will keep rising into next year. Yesterday the IFO survey for November unexpectedly rose to 106.8 from 105.3 in October, showing that the business sentiment for the Germen economy is still strong. Furthermore, the Gross Domestic Production (GDP) grew by 0.6% in the third quarter, following a 1.1% rise in the second quarter, in line with the forecasts showing us that German economy has slowed down its growing pace, but keeps growing.

    Some more good figures from the European economy released yesterday as the current account deficit has narrowed substantially in Sep; from 3.9% in Aug, to 0.3% and has taken many by a surprise.

    Today (07:00 GMT), the market wait for German monthly and yearly preliminary CPI (consumer price index) to fall down to -0.2% from 0.1% in the previous month, where usually a rising figure has a positive effect on the nation's currency. Also today (09:30 GMT), UK GDP for the 3rd quarter is expected to rise by 0.7% same as previous quarter.

    i need to know what you think ?