News of the day. October 24, 2013

October 24, 2013

The main news comes today from the New World. August Trade Balance and Unemployment Claims report will be published in USA.

Trade Balance is one of the most important indicators of economic conditions. It represents the ratio of country’s imports and exports. This difference has been negative since long time, it means America imports more the exports. Trade deficit of the August should increase to the level of -39.5 billion dollars, which will affect Dollar badly.

From the other hand weekly Unemployment Claims report may bring investors hope. After an abrupt rise of the indicator’s rate at the beginning of the month it may slightly decline to the level of 343 000. However October’s rate is still higher than the average summer numbers and the market may react negatively.

Regarding fundamental data, the pair EUR/USD is expected to rise up to the levels of 1.3840 and 1.3860.

Dmitriy Zolotov

Analyst of LiteForex Group of Companies

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