Financial news

Employments decrease in the USA bits dollar. Foreign exchange market review. 10 September 2007

At international foreign exchange market US dollar is still under the pressure after publication on Friday of employment data which for the first time for 4 years showed a shortening of work places on 4,000 that strengthened awaiting by market participants of FRS key rate decrease at the sitting 18 September.

In the fist half of European session US dollar received a slight support from the side of data from Britain which showed producers’ prices growth in August on 0,1%, having the awaited 0,2%. In this connection market participants suppose that interest rates growth in Great Britain is over. Also US dollar got a support from the side of data about the mood of investors in Eurozone, which index had decreased in September by 18,1 points, while 26,3 months before and forecast 20,1 points. Data influence was limited and after a slight growth US dollar continued the lowering.

Euro/dollar today had overcame the oppression at 1,3799 and reached maximum mark at 1,3816. Now the pair is traded about 1,3795/00.

Movement of the pair pound/dollar today took place in the range 2,0260/2,0331. The pair growth is restrained by sales at the level 2,0325 and by 17:17 КТ the pair is traded about 2,0300.

Market participants are waiting already today for data about consumer crediting for July, which volumes according to forecasts make up by $9,1 bln. Consumer crediting volumes decrease more than the forecasted data creates preconditions for testing by euro/dollar pair of historical maximum in the region 1,3853. The purchases are at 1,3770.

At Ukrainian interbank foreign exchange market with the beginning of the new week rally of American currency, observed on Friday, was changed by its weakening and as a result its rate came close to the mark 5,00/$1 — lower range of NBU currency interventions.

Bid today were opened at the mark 5,0050/5,0200, but as strong demand was absent US dollar quotations lowered by 5,0010/5,0100. During the session US dollar quotations had been lowering down by the mark 5,0000/5,0005, and by session closing made up 5,0010/5,0050 per $1. We’d like to remind that on previous day the quotations at closing made up 5,012/5,015. Most part of bargains was concluded today in the range 5,001/5,005, while 5,005/5,012 on previous day.

Today NBU did not participate in bid.

At DEPOT-market today the situation has not been changed significantly.

“Overnight” in hryvna is quoted by banks in the range 0,4/1,0%, but in comparison with the previous session stays closer to the higher limit of the trade range. Average weighted rate by  16:00 КТ makes up  0,9%, while 0,7 according to results of Thursday bid. Concluded bargains bulk by this very time made up UAH 1,162 bln., while UAH 1,314 bln. on Friday.

Cost of “weekly” resources is fluctuating in the range 1,2/3,2%, but in general is still stable. Average price in the amount 1,8% annuals remains unchangeable by 16:00 КТ. Bid volume grew up by UAH 190 mln., being higher than previous day index 3,4 times.

Cost of credits for the term “from 22 up to 31 day” was fluctuating today in the range 5,0/7,8, against 4,5/11,8% at Friday bid.