Treasury - Daily Forex for day 29.04.2004

...Australian and Canadian dollars fell nearly 2% against the U.S. currency, while the price of gold dropped to six-month lows. Anticipation of strong U.S. economic data due out this afternoon also pushed the dollar higher. The first-quarter gross domestic product is expected to show a rise of 5.0%, up from 4.1% in the last quarter of 2003.

In late trade on Wednesday the crown fell sharply against the euro to hit a three-and-half week low. The move can be attributed to large crown sell orders carried out at illiquid market. Finance Ministry raised this year's fiscal deficit forecast to 6.1% from previous 5.2%, but the market reaction was calm as the upward revision had been anticipated. Today's CNB meeting is expected to result in no change in interest rates.