Dealingové oddělení (Citfin - Finanční trhy a.s.)
Currencies  |  October 07, 2010 09:52:55

Stop the decline in the dollar today, the ECB?



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CZK / EUR

Overview Wednesday news

Germany: industrial orders rose in August by 3.4%, more than expected, down by 20.3% is higher

Eurozone: GDP final result is confirmed for the second quarter to 1.0% QoQ and 1.9% year on year

World: IMF reduced world growth estimate this year to 4.6% and 4.2% next year

Euro in the middle: crown strengthened slightly to 24.45 CZK / USD

Crown during yesterday's trading significantly outdistanced by the level of 24.50 CZK / EUR. During the day came, although corrections that came back for a moment over the course of 24.50 CZK / EUR, its small crown loss but still lost in the course of yesterday and returned to 24.45 CZK / EUR.

In domestic news, we had to wait until today, an interesting positive news from yesterday was surprisingly high growth in German industrial orders. From Germany come now still relatively good news, which is good news for Czech industry.

Overview of today's news

9:00 CR: retail trade in August

9:00 CR: industrial and construction output for August

9:00 CR: Foreign trade in August

Prerequisite for the day

The very morning of the first set of data comes from the domestic economy. This could send a signal for the Czech koruna positive, but apparently does not affect the rate significantly. We continue to expect a move in the range from 24.40 to 24.60 CZK / EUR, should be removed from that zone, so rather towards stronger levels.

CZK / USD

Overview Wednesday news

Germany: industrial orders rose in August by 3.4%, more than expected, down by 20.3 are higher

Eurozone: GDP final result is confirmed for the second quarter to 1.0% QoQ and 1.9% year on year

World: IMF reduced world growth estimate this year to 4.6% and 4.2% next year

Ireland: The rating agency Fitch cut Ireland

U.S.: ADP report showed a decline in jobs in the private sector by 39 thousand. 24 thousand people expected. new jobs

Dollar in the middle: crown strengthened from 17.67 to 17.52 CZK / USD

The dollar continues to decline further. Crown is doing so to strengthen 17.50 CZK / USD. Euro exchange rate slightly surpassed $ 1.3900 / € and goes to $ 1.4000 / €.

Nor would the dollar yesterday's data. ADP report showed a decline of jobs in the private sector by 39 thousand., While the market expected growth. Still continue to speculation that the Fed will come with further support the economy and prints more money to buy bonds.

From Europe continued inflow of good news from Germany - Industrial orders in August rose significantly more than was expected. Downgrade of Ireland hurt the euro, the story of indebted European countries now running in the background story of a slowing U.S. economy.

Overview of today's news

12:00 Germany: Industrial production for August

13:45 Eurozone: ECB decision on interest rates

14:30 U.S.: number of weekly applications for unemployment benefits

Prerequisite for the day

Today, more data will come from the German economy - which could send a signal back positive. Events will be monitored ECB meeting - although that would be to leave interest rates unchanged at 1.0%, but could come to comment on the growing rate of the euro against the dollar. Spring from Euro strengthened against the dollar by about 17% and the ECB could not express concerns about the strong euro. This could halt the decline of the dollar, which has not been in vain looking for the bottom.




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Group Citfin

We offer comprehensive services in the world of banking for companies trading with foreign countries. Corporate Account, favorable exchange rates - web Exchange Rates, foreign payments, exchange news and advice.
Multi corporate account can lead to a 14-in foreign currencies. Professional Internet banking allows you to safely and easily manage your business finances. Favorable exchange rates of currencies (the euro EUR USD dollar, the pound GBP, PLN, JPY, CHF, SEK, DKK, HUF). Currency exchange free of charge. Low fees for foreign payments and receipts.

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