Events traders today:
11:30 MSK. United Kingdom: PMI index for the manufacturing for March (the previous value of 55.2, forecast 54.8).
Forex euro dollar forecast EUR / USD pair today 03/04/2018
Traders on the EUR / USD today is to sell the euro at a growth rate to the level of 1.2335. US data on ISM industrial index for March point to a rise in inflation, it is positive for the greenback. ISM price component rose to its highest level since April 2011. Such dynamics indicates an increase in the consumer price index to 2.5% in the medium term, which will generate a new wave of rumors in the market about the need for a more rapid rise in US interest rates. Not necessarily that the Fed will listen to such rumors will soon raise interest rates. This market expectations and the market will use them as it used to do - to buy dollars on "rumor and sell the fact". In Asia, there is decline in gold prices is negative for the euro, due to the correlation of the two instruments.
EUR / USD recommendation: Sell 1,2330 / 1,2345 and take profit 1,2286.
Forex pair Pound Dollar exchange rate forecast GBP / USD today 04/03/2018
The GBP / USD pair data from the UK industrial PMI index for March, and today will determine the course of trading. Yesterday the same period in the United States fell by 1.5 percentage points. And if Britain reports today show growth in the previous month (index greater than 55.4), the likely increase in the sterling exchange rate. By reducing the index below 54.3, reduction britanstsa quotations. Leading indicators point to the implementation of the second scenario. The index of capacity utilization and factory orders in March fell to its lowest level in four months. If the surprise is not today, then come out negative report from Markit Economics, which will cause sales of the British currency. But sometimes there are surprises in this regard, today it is advisable to open a position after the release of the report at 11.30 MSK.
GBP / USD recommendation: flat 1,4010-1,4100.
Forex Currency pair yen dollar forecast USD / JPY today 04/03/2018
On the eve of the US stock market was hit by a wave of sales, it caused a reduction in the Dollar Yen, as it is strongly correlated with the equity markets. It is likely a drop of S & P500 2.23% is a result of low liquidity trading. On Monday, many investors are rested and some traders were able to push the market down in the first place due to bad news for Amazon and Tesla, capitalization slipped by 5%. Today, investors will return to the market and the auction will be held at the usual amounts. I expect growth of quotations of the US stock market. by ISM industrial index report pointed to GDP growth up to March by 4.9%, against 4.4% at the end of February. Such dynamics is positive for the stock market, because the signals on the growth of corporate profits.
USD / JPY recommendation: Buy 105,95 / 105,70 and take profit 106,50.
Company analyst FreshForex