The growing positive expectations for the economic activity of Germany on international exchanges have led to an increase in the EUR/USD rate, Trend reports on June 16 citing the weekly review of Azerbaijan’s InvestAZ Investment Company CJSC.
In addition, it’s expected that the US FED (Federal Reserve System) statements to expand the program for the purchase of bonds and loans to support the local economy will also lead to higher prices for the euro.
The company’s analysts forecast that the euro’s rate will exceed $1.14 to reach the level of $1.16.
The analysts also presented data on the situation in international financial markets and short-term forecasts.
Expectations of rebound in the global economy and the FED economic support program maintain increase of Brent oil prices, which during the last week went down by 15 percent and in the coming days will hover from $37 to $40 per barrel.
Traders are focusing on US oil and gasoline reserves, which will be published at 18:30 (GMT+4) on June 17.
Decrease in the exchange rate of the US dollar against the leading currencies on international currency exchanges may also cause the GBP/USD rise over $1.27 to reach $1.3.
Investors are focusing on monetary action plan of the Bank of England, which will be published at 15:00 (GMT+4) on June 18.
The increase in USD/TRY rate has continued, nearing the level of resistance observed over the past three weeks. If the level will be exceeded, the rate can again bounce to 7 Turkish liras per dollar.
The current world economic crisis has lead to decrease in demand for gold in precious metal markets. Thus, the price which over the past week grew by 4 percent can again fall below the level of $1,723 per ounce ($55.4 per gram), reaching $1,700 ($54.8 per gram).
Attention: The above data are recommendatory in nature. Operations on this type of activity are included in the high-risk group, and InvestAz, based on the foregoing, does not bear any obligations for ongoing investment operations.
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