The American stock market has helped to complete the European currencies trading day on Thursday in an upward trend. The rally in the stock and commodity platforms once again revived interest in risky instruments. In this single European currency strengthened to the American, even though a very pessimistic report of the IMF on macroeconomic euro.
According to a study by the International Foundation Specialists, a fundamental value of the euro on the date to be below current levels by 15%. Despite a slight weakening recessionary processes in the region are still valid. According to the forecasts of the international organization, in 2009 the combined GDP of the region will decline by 4.8%. In this regard, the IMF experts recommend to save the current settings of monetary policy and not to abandon the fiscal incentives. While this year's overall budget deficit of foreign currency bloc could reach 6.2% of GDP, while the amount of debt - 81%. These figures do not fall within the scope of the Maastricht agreement and violate the Treaty on the stability and development, which sets agreed limits on deficits (3% of GDP) and government debt of member states of European Monetary Union (60% of GDP). However, in 2010, the deviations from the standards only increase. Such projections really create the preconditions d To review the fundamental value of the single European currency.
Still, the idea of short-term speculation on Thursday had been stronger, the euro continued to strengthen in the context of the general growth of interest in risky assets.
slight negative impact on U.S. currency, provided the outcome of next week at the auction on placement of treasury notes (this time the 7-year-olds to 28 billion). Recently, the U.S. reaction to the initial proposal gosbumag quite unpredictable. The results of yesterday's auction was very successful, experienced increased demand from large institutional investors (about 63% of total applications).
Today, the key macro-economic news will publish a preliminary assessment of the U.S. GDP for the II quarter (16:30 Moscow time).. The consensus-forecast of a decline to 1.5% the previous quarter and 5.5% in annual terms. Deviation of actual values from the expected numbers markedly increased volatility in the market.
In general, trading in European currency today will be mostly in the range 1,4003-1,4241 dollar.
On Friday at 16:30 Moscow time data published by the U.S. GDP for the 2 quarter, market participants are expected to decline 0.7%
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