Forex Forecast March 21, 2018
11:30 MSK. UK: Changing the level of average earnings in January (previous value 2.5% 3m / g, 2.6% prediction 3m / g).
17:00 MSK. USA: Sales of housing in the secondary market in February (the previous value of -3.2% m / m forecast 0.4% m / m).
21.00 MSK. US: FOMC decision on the basic interest rate for March (the previous value of 1.50%, 1.75% forecast).
The euro dollar forex forecast pair EUR / USD today 03/21/2018
Today, for the exchange of players is the most important day of the week, and possibly the entire month. In the evening, the Fed will announce its decision on interest rates. The futures market in Chicago, which to this day very accurately predict the behavior of the FOMC, points out that today the rate will be increased by 0.25%. Credit market gives signals about the sales euro: the yield of the German 10-year bonds falling to their counterparts from the United States and England. Investors are waiting for the first press conference of the new Fed chairman - J. Powell from many market participants are waiting for a hint of a fourfold increase in rates this year. Whether such a scenario is realized in practice? Probably not. Powell probably will choose conservative style statement and will not rush things, because now is not the high inflation is observed, which could force FED to act more quickly than before. On this background,
EUR / USD recommendation: Sell 1,2269 / 1,2292 and take profit 1,2229.
Pound dollar forex forecast pair GBP / USD today 03/21/2018
Currency traders on the pound now awaits an ambiguous situation, on the one hand negative for sterling slowdown in inflation in the UK as early as investors were concerned about the high increase in consumer prices and hoped for an early interest rate increase by the Bank of England. But the mood of investors has changed and a lot of players are not waiting for the tightening of monetary policy. Given the fact that the US Federal Reserve will raise interest rates, it is necessary to wait for the depreciation of the currency of Albion. On the other hand, the rise in oil prices could can provide support for the sterling, due to Brent and GBP / USD strong correlation.
GBP / USD recommendation: flat 1,3970-1,4060.
Dollar yen forex forecast pair USD / JPY today 03/21/2018
Today during trading on the forex market, traders on the USD / JPY is worth waiting for growth for two reasons:
First, market participants are buying risky assets, that a positive for the dollar, the yen quotations, which has a strong correlation of the asset. Now there is the growth of quotations in stocks, oil, copper. gold depreciates, it is positive for the USD / JPY. The stock markets today, the leaders of growth of Hong Kong index Hang Seng, which adds 1.2%. Second, the United States and Japan's 10-year government bond spreads observed growth yield debt market, which is also positive for the dollar yen pair.
USD / JPY recommendation: Buy 106,46 / 106,22 and take profit 106,91.
Company analyst FreshForex