Financial news

US dollar increased against all European currencies

International foreign exchange market . Today US dollar was growing confidently during the whole day in respect of all European currencies. Index of consumer prices in Great Britain increased in April, 2008 3% in comparison with analogous period of 2007. This is maximum index of prices increase since March 2007. This index confirmed again high inflation level in Europe.

At 15:30 КТ in the USA data on retail sales level in the USA for April 2008 was published. This index decreased in April 0,2% in comparison with March of the current year. Analysts expected decrease 0,1%. At the moment of news release US dollar rate fluctuated in different directions against European currencies: it increased against Swiss franc and practically did not change against euro and English pounds of sterling. US dollar growth was caused as well by increase of 0,1% trademarks on the store of the USA . Analysts expected the growth of 0,4%, however indicators of American economics against background of macroeconomic indicators of European economics look much more optimistic.

Technical levels on main currency pairs at 18:03 КТ :

At Ukrainian inter-bank foreign exchange market on Tuesday US dollar kept loosing its positions bated Ukrainian currency 1,0-1,5 kopecks in comparison with session of Monday. Today bids started from 4,79/4,81, but quite soon upper meaning of trade range fell to 4,80/$1 and for some time was keeping here. Then bids developed in accordance with scenario of the previous day – dollar started to lose its positions again, falling to 4,77/4,78 during session. Bids were closed on the mark UAH 4,770/4,795/$1. NBU did not go to market.

Majority of bargains was concluded today by market participants within 4,785/4,795, with 4,79/4,80 per $1 a day before.

At DEPO-market rates increase on inter-bank credits in UAH is going on, as quantity of temporarily free funds of banks decrease every day.

Thus, balances decrease to 14,674 b from 15,297 b caused growth of rates up to 12,0/17,0% by the end of the day, from 8,0/12,0% in the morning and 6,0/12,0 a day before. Average weighted price on concluded bargains at 17:00 КТ constituted 12,9%, with 8,0% in accordance with results of bids on Monday. Volume of bids increased up to 4,25 b, with 4,41 b yesterday.

Rates on credits for the term “from 2 to 7 days” are today within narrow range – about 14,5/15,1%, with 10,0/20,0% a day before. Average weighted price on concluded bargains increased up to 14,9%, from 12,0% a day before. Volumes of concluded bargains decreased and constituted 178 m , against 266 m on Monday.

Rates on credits for the term “from 22 to 31 days” are today at the level 18,9/20,9% in comparison with 14,0/20,0% at bids on May 12.

Comments of KRAMAROVA S.N., Head of Treasury of PRAVEX-BANK.

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