Sunday, 18 October 2009

Although data on the consumption

Although data on the consumption and retail sales remain fragmentary, reviews the business climate showed gradual improvement, supported by Managers Index on purchasing, manufacturing and service sector, which expanded to 10 and 12, respectively. In addition, an overview of the German ZEW rose in June, violating the 5-month-lane drop. As soon as the Federal Reserve will make its second rate increase in August, would be unlikely that the ECB would allow the Federal Reserve to make the third increase in September without taking any action, as well as the continuation of price pressure in the U.S. definitely transferred the euro - far beyond the comfort level of inflation at 2.00 %.

Broke above 18-week trend line, euro accumulated technical capacity to move to follow the objectives, namely, the $ 1.2450-00, which limited the level of recovery in 61.8% of the movement of $ 1.2926-1.1759. But we feel that the inevitable setback caused by the fundamental data to prevent net increase for this purpose and will consolidate in the area of $ 1.24-25.

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