American focus: USD delayed 2-days growth [М] [E]

On dollar's drop snapped 2-day recovery has delayed. Weak expectations on GDP report and concerns as to the future of FED monetary policy were among the reasons of dollar's weakness. Initially, USD was under pressure after sources reported that Russia has increased the share of euros in its foreign currency and gold reserves. Alexey Kudrin, Russian Minister of Finance said earlier, Ctntral Bank of Russia will hold 45% of oil export income in USD,45% - in Euro and 10% - in GBP. ABN Amro Holding NV informed earlier, so-called stabilization fund in Russia consisted mostly of USD. Recently additional pressure on dollar came from official comments of Quatar, Kuwait, UAE, Swiden as to plans about increase of its currency holdings into euros.
According US Commerce Department data GDP growth in 1Q (GDP q/q диаграмма) were revised on 5.3% q/q against preliminary number 4.8%. The figure missed average forecast +5.8%. Report was mixed, but gave dollar little support. Signs of economic growth acceleration testifies for rate increase on next FOMC meeting 29 June (Federal Funds 25 years диаграмма Federal Funds 50 years диаграмма). Interest-rate futures show traders priced in a 56% chance the Federal Reserve will lift its target rate to 5.25%, compared with 20% at the start of the month.
Wall Street trades in green owing to mixed data. Corporate news: Regions Financial agreed to buy Am South Bancorp for $10 billion . However, this sum on 2% lower than last fixing of Am South shares. It can be the reason why shareholders disagree to make this deal. MasterCard made IPO with $39 per share or $2.4 B in total. Analysts forecasted average share cost in range $40 - $43. Shares will trade under simbol "MA" on New York Stock Exchange. On Wednesday, Vonage Holdings, Internet-provided its IPO that became the worst debut loosing 13% on the first day of trading. Intel CEO Paul Otellini contradicted the rumours about company intents to spin off memory chip business and issue the shares of that department on equity market.