Corporate foreign exchange news

Forex dealers anticipating US economic growth?

Friday, 17 June 2011 09:06:02 GMT

Published by Mark Smith-Halvorsen
Forex dealers may welcome the news that economic growth in the US could pick up by the end of 2011, after recently declining for the first time in a year.
According to the median figure of a survey of 51 experts conducted by Bloomberg, the Conference Board viewed the next three to six months 0.3 per cent more positively than the previous survey in April, which had indicated a 0.3 per cent fall in confidence.
Chief US economist at Capital Economics Paul Ashworth said: "We should expect to see some pickup in growth in coming months as temporary factors are unwound."
However, he added any improvements are likely to be "fairly muted".
The report is expected to be released at 10:00 New York time and estimates as to what it would show ranged from growth of 0.7 per cent to tumbles of 0.4 per cent.
Reuters reported yesterday (June 16th) there was some concern that lending between banks could be halted amid rising dollar funding pressures.
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