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A calm week.

This week, in comparison with the last one, won’t be quite economically rich. Due to that the news from stock exchanges and markets will be very important. The fact, that FRS of the United States decided not to increase the interest rate, shows, that US economics strategy isn’t in ideal condition at the moment. The same could be said about the world economics in whole. But the situation improves and according to the predictions the leading countries’ GDP can increase next year.

And the data on GDP of European countries is to be taken into consideration next week, as it can influence on the situation on the market greatly and make investors active. Besides the release of Eurozone GDP and GDP of its most developed parts (Germany, France, Italy) the data on ZEW Survey (Germany) and Euro-Zone Industrial Production are also to be considered. In the USA the news on Trade Balance, Import Price Index and University of Michigan Confidence Index are extremely important because of up-to-date economic situation. And the data on British Claimant Count Rate and Total Trade Balance might turn the trading market upside down very quickly.

So, next week the rivals of USD are likely to rise up. EUR/USD can reach the level of about 1.5000, but then fall down even to 1.4750. GBP/USD might go up to 1.6800, but then fall a bit. USD/CHF may set at the historical and psychological level of 1.0000 and USD/JPY is expected to go downwards to about 88.00.

by Jonathan Halprid
November 9, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
November 4, 2009 EUR/USD comes back
November 3, 2009 Trading with little news
November 2, 2009 Economically rich week.
October 30, 2009 Is USD falling again?
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