SearchEarly Morning Forex Comment22nd March 2006 The US Dollar is mildly better against the major currencies as the forex markets get more confident with the prospect of a Federal Reserve looking at 5 pct interest rates in the near future. The release of US PPI data yesterday surprised the market and provided the impetus to US Dollar buyers that they needed. The core PPI data unexpectedly rose 0.3% in February, exceeding forecasts of a decline to 0.1%. However, the headline PPI reading dropped by 1.4%, worse than the expected 0.2% decline against January's 0.3% increase. Expect the US Dollar to continue to consolidate today. No major economic statistics are due for release today, nor are there any speeches planned. The UK budget is likely to be neutral for the British Pound. More on the currencies in detail later. 
Categories: Forex News |
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