The pair has decreased by 1,1 % on Wednesday. Falling principal cause became applications of the US Federal reserve for possible increase in volume of the repayment of securities program. Also, it is expected that American economy reduction will be more significant than it was supposed in January. Unemployment will probably grow to 9 % and will remain at this level till the 2010. FRS expects decrease in American gross national product by 1,3-2%, instead of earlier declared 0,5-1,3%.
On May, 20th Dow Jones has lost 0,6%. Bank sector which have not reacted to the stresses-tests positive estimations sounded on Wednesday by Timothy Geithner, have appeared under pressure. Alan Grinspen considers that American banks can face necessity of large capital attraction. Besides, according to FRS ex-head, serious problems in the US mortgage sector will proceed until the houses prices are stabilised.
Today we will see a lot of the economic statistics. Retail sales data is published in Great Britain, and analysts expect growth of retails in April to 0,5 % in monthly expression and 2,4 % in annual expression after increase in March by 0,3 % and 1,5 % accordingly. Following data from the USA is expected: Jobless Claims, Leading Indicators, Philadelphia Fed Survey. Analysts assume that Leading Indicators index, characterising development of the American economy the next three-six months, in April has grown by 0,8 % after decrease by 0,3 % month before, and industrial index Federal reserve Bank of Philadelphia in May has risen up to -18,0 in comparison with - 24,4 in April. Jobless Claims level for the week ended 05/16/2009 has decreased to 630 thousand from 637 thousand week before.