Events that should pay attention today:
16:30 MSK. USA: Change in the number of people employed in non-agricultural sector in January.
The euro dollar forex trading forecast for EURUSD today 02/01/2019
The main event of the day will be the publication of data on employment in the US in January. We are interested in two metrics: Non-Farm and average hourly earnings. The first indicator may reach the level of the median forecasts since shatdaun record in the United States has caused a reduction of jobs. Yesterday's weak report on applications for unemployment benefits are all confirmed. The pace of growth of average earnings, in my opinion, can also be reduced by the background of the economic slowdown. Many US corporations are waiting for the reduction of revenue and profit growth this year, after rapid growth in 2018. For the US dollar is moderately negative signal. Debt dynamics of the market and confirms the upward trend in the euro - the yield spread on 10-year German government bonds and US shows growth. The main objective of the euro is the same - growth in the region of 1.1621. Based on weak GDP data for the euro area, it is expected that growth will slow. GDP growth in the eurozone was 1.8% in 2018 against 2.4% in 2017, which was the lowest figure in 5 years.
EURUSD recommendation: Buy 1.1430 / 1.1410, and take profit 1.1535
Pound Dollar GBPUSD forecast for today 02/01/2019
The British pound during the day will storm yesterday's high, which is located at the level of 1.3159. The first reason for the growth of the pound - this is a positive dynamics of the credit market, where the yield on 10-year UK government bonds is increasing in relation to their counterparts in the US and Germany. Secondly, the British Parliament is planning to move the date Brexit, because even in the case of approval of the transaction with the Brussels Parliament will need time to make relevant laws. To pound is moderately positive signal.
GBPUSD recommendation: Buy 1.3085 / 1.3060, and take profit 1.3159
Dollar yen USDJPY Forecast:
The second round of the US and China trade talks ended positively. The parties agreed to hold a summit of presidents of the USA and China in late February to sum all the results and finally to conclude a trade agreement. No surprises here, and can not be because D. Trump really need this bargain. Why Trump? On the eve there was information that the campaign headquarters of the American president's budget collected 19.2 million. Dollars. J. Trump has now, 21 months before the new US presidential elections, began preparing for another election campaign. Competitors in the face of the Democratic Party are just starting to think about the candidates. J. Trump is an application for re-submitted his inauguration day - January 2017 If China trade deal will not, there will be no second presidential term - usually it is very simple.
USDJPY recommendation: Buy 108.75 / 108.55 and take profit 109.70