On currency markets, the European single currency has continued its surge. The dollar exchange rate forecast for 2011 clouds are more and more. So the € currency relative to the dollar is in the process, the brand of EUR / USD to attack 1.39. Should then take account of the rise of the euro exchange rate to 1.40 dollars and beyond.
The European Central Bank (ECB) set the official euro reference exchange rate of $ 1.3809 set on Wednesday afternoon. Subsequently, the European single currency continued its flight and climbed to EUR / USD 1.3876. Booming orders in the euro area has worsened the U.S. dollar prediction on. Thus, the industrial new orders rose by 2.1 percent compared to the previous month. The expectations of analysts who had expected 0.8 percent, were far exceeded.
Positive economic news from the United States currently can not improve the dollar exchange rate prediction. Sales of existing homes increased from 5.22 to 5.36 million units in January 2011. The U.S. consumer confidence climbed to 70.4 from 64.8 points in February 2011 and the ISM Purchasing Managers Index rose from 60.8 to 61.4 meters.
The monetary policy meeting of the European Central Bank (ECB), the euro could give a further boost share price performance and eventually cause the exchange rate mark for the EUR / USD breaks 1.4000. It is expected that ECB President Jean Claude Trichet announced a tightening of monetary policy. Inflation rates in the euro area were in the past three months about two percent.
Technically, is a serious resistance at EUR / USD 1.3885. If the common currency to overcome this mark on a closing basis, then the dollar exchange rate forecast 2011 would continue to deteriorate. The road would be free until the next resistance at EUR / USD 1.4040.
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