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Can USD rise that week?

In spite of the correction observed at the end of the last week, EUR/USD and GBP/USD didn’t manage to set below the levels of 1.49 and 1.66 agreeably. But that trading week the fall down of the currency pairs mentioned above is quite possible because of different news coming from the United States. For example on Monday the data on Empire Manufacturing index and advance retail sales will be released (according to the prediction is to grow for 0.9%). On Thursday all the attention will be drawn to the news about US industrial production, Net Long-term TIC Flows and producer price index. On Wednesday the most important trading information from the USA will be about consumer price index and housing starts. And on Thursday the investors will be expecting the data on initial jobless claims in the US.

In Europe the most important information, expected by Forex signals developers and professional traders, is the news on Euro-zone consumer price index, retail sales in Great Britain and German producer price index. The Euro-Zone Trade Balance will be released on November 17, 2009 and the BoE’s decisions – on November 18, 2009.

Due to that, EUR/USD is expected to reach the level of 1.4800 and by the end of the week be trading right there. GBP/USD may rise to about 1.6800 during the first part of the trading week, but be its end it can also fall down to 1.6400. At the same time USD/JPY is expected to be trading between 91.00 and 88.00.

by Jonathan Halprid
November 16, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
November 13, 2009 Possible EUR and GBP correction
November 12, 2009 Possible fall of USD
November 11, 2009 Little rise of USD
November 10, 2009 USD correction
 
 
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