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Economically rich week.

That week is going to be quite rich in different economic news, which can influence the situation on the market very seriously. The behaviour of traders and Forex signals developers will be determined by publishing of macroeconomic data, decisions of central banks and situation on stock markets.

In the USA the main news to be taken into consideration is unemployment rate and unemployment Change in Nonfarm Payrolls. Besides that, the important data on FOMC Rate Decision and ADP Employment Change will be released.

In Eurozone PMI and Manufacture index will be released. And in Great Britain the big amount of data on manufacture sector is going to be announced. At the same time the central banks of Britain, USA, Euro-zone and Australia will make decisions about interest rates. It’s expected that the rates can be changed, and that can change the development of the situation.

That week EUR/USD can continue falling down and break through the point of 1.4600. But correction is also possible, if the news turn out to be negative for USD against the predictions. At the same time GBP/USD can rise up and finally to be trading at about 1.6600. The support for GBP/USD is situated at 1.6200. For USD/CHF the possible target is 1.0100 and USD/JPY is likely to go down to 90.00/.

by Jonathan Halprid
November 2, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
October 30, 2009 Is USD falling again?
October 28, 2009 Probable recovery
October 27, 2009 USD recovers?
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