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Forex signals: USD week!

The behaviour of traders and Forex Signals providers during the previous week was quite active, but the major attention of all Forex market participants was drawn to Friday release of change in nonfarm payrolls in the USA. That news turned out to be quite positive and due to that the American currency continued its recovery very successfully. EUR/USD and GBP/USD reached the week’s minimum levels. Some Forex signals developers are also thinking that it is the sign the start of American economy’s development and are expecting the heads of US FRS to increase the interest rate because of that fact.

That week Forex specialists are predicting the continuation of USD and the American economics recovery. Taking into consideration the tendencies of the previous days it can be admitted that the positions the American currency can turn out to be quite strong and suppress its rivals pretty active. At this rate the great number of Forex signals providers should be buying USD in the nearest future.

Speaking about main news it can be said, that the interest rates of three counties’ central banks will be released this week: December 8 – Canada, December 9 – New Zealand, December 10 – England. All the rates are expected to remain at the same level (CCB - 0.25%, NZCB - 2.5% and BOE - 0.5%). And besides that on December 11 the Forex data on manufacturing production in Germany and Great Britain will come out. The information on retail sales and trade balance in the USA is also expected by Forex signals providers.

Due to that EUR/USD can continue going down to the level of about 1.4600 and GBP/USD is likely to reach the minimum of about 1.6300 or even go lower.

by Jonathan Halprid
December 7, 2009
See Forex Analysis and Forex Forecasts for the previous days there:
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