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12.09.2012 10:59 AM
EUR/USD. Forecast for September 12, 2012

 

Trade balance in the USA exceeded the forecasts but was less than June reading: -42.0 bn dollars consensus -44.0 bn dollars. Nevertheless, investors were satisfied by this data.
After the German court decided not to block ESM mechanism and amid expectations of QE3 announcement on Thursday, the market reacted with a rally. According to some rumors, the court will make the government to carry out some procedural steps before the next measures are taken. We are waiting for the verdict to be disclosed at 12:00 (GMT +3).
At 13:00 (GMT +3) the markets will get the data on industrial output in the Eurozone for July: the forecast is 0.0% against 0.6% in June.
Moreover the number of the investors who are expecting QE3 in September rose significantly: about 80% of primary dealers think that the regulators will state about QE3 during the meeting on September 13.
Targets for growth: 1.2900, 1.2918, 1.944, 1.2970, 1.3002, 1.3012.

 

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