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Main » 2016 » January » 21 » Forex forecast 01.21.2016: Euro / dollar recovered pending the outcome of the ECB meeting
11:59
Forex forecast 01.21.2016: Euro / dollar recovered pending the outcome of the ECB meeting
 
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The results of the last trading day:

On Wednesday, the expectations for the euro is fully justified. Turn the cross rate of the euro / pound after the British statistics put pressure on the euro to the US dollar. The euro fell to 1.0890, despite the drop in US stock indices.The negative statistics in the United States also failed to change the mood of the players on the eve of the upcoming ECB meeting and press conference M.Dragi.

 

 

Consumer Price Index in the US in December amounted to 0.1% (forecast was 0.0%, previous 0.0%). The consumer price index excluding prices for food and energy in the US in December amounted to 0.1% (forecast was 0.2%, previous 0.2%).

 

The number of new houses in the US in December amounted to 1.149 million (1.190 million was forecast, the previous value 1.179 million). The number of building permits in the US in December amounted to 1,232 million (1,200 million was forecast, the previous value 1.289 million).

Market expectations for today:

In Asia, the euro / dollar moved at least 1.0866. As the market at 7:16 MSK euro is trading at 1.0889 against the dollar. The Shanghai Composite Index traded in positive territory at 0,51%, Hang Seng - 0,31%. A barrel of Brent fell to $ 27.97 (+ 0.58%).

Today the attention of traders focused on the results of the ECB meeting and press conference, Mario Draghi.This key event on Thursday. On rates and QE program changes are not expected. Market calmly react to the decision of the ECB. The surge in volatility wait at 16:30 MSK performing M.Dragi. 16:30 MSK the euro is expected to rise to 1.0917. After 16:30 MSK will indicate the direction of Draghi.

News of the day:

  • 15:45 MSK decision on interest rates by the ECB.
  • 16:30 MSK US is to release data on initial applications for unemployment benefits, and the Philadelphia Fed manufacturing index. Press conference M.Dragi.
  • 18:00 The euro zone - an index of consumer confidence for January (preliminary data).
  • 19:00 MSK reserves of oil according to the US Department of Energy.

 

Technical analysis:

  • Intraday goals: maximum - n / a, at least - n / a, the closing - n / a.
  • Intraday volatility over the last 10 weeks: 100 points (4 digits);

 

The euro / dollar is trading at 1.0888. During the Wednesday hour indicator bad unloaded. In this regard, the forecast is expected to strengthen the euro to 1.0917 by 16:30 MSK.

 
 
Analysis Alpari

 

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