Foreign Exchange Market Forecast October 19, 2015 EUR / USD
Forex greenbacks the last trading day of last week grew to its competitors - the dollar index (USDX) closed the week trading at 94.76. The euro dollar EUR / USD on the background of the expansion of the spread of yield ekmetskih and US government bonds the US and Germany fell by 0.35%. Pound Dollar GBP / USD on positive release from the University of Michigan consumer confidence for October closed the week slightly down 0.06%. Dollar Yen USD / JPY on the background of the demand for "risky assets" closed trading 0.40% growth.
Foreign exchange market main events for today:
05.00 MSK. China: Volume change in real GDP for the 3rd quarter (previous value of -1.7% q / q, forecast 1.8% q / q).
Forex forecast for the euro / dollar EURO / USD today 10/19/2015
Today, the first trading day of the week in the currency market, investors will pay attention to the output of China's GDP data for the third quarter. PMI indices for the manufacturing sector and the service sector signal a slowdown in economic growth in China. While data on consumer spending and the trade balance suggest that the "write off" the second economy in the world is still too early. Net exports in the third quarter amounted to 163.6 bln. Dollars, which is 27.7% higher than in the same period of 2014 and 19.7% higher than in the second quarter of this year. Significant growth in exports has a strong positive impact on the economy of China.Household spending, though only slightly, but still show an upward trend. In this regard, you can probably wait for the report within the median forecasts, which will be positive for the traders on the world's leading stock markets, as financial markets are still afraid of the strong decline of the Chinese economy. Slight growth of quotations on the stock market will help increase operations carry trade, which would put pressure on the currency of the Eurozone as a funding currency. The yield on 10-year German government bonds on the bond market lower against the British and US counterparts, which also negative for the euro.
Forex. Recommendations for the euro dollar today as traders on the euro together with the American for trading is to open sales Sell the growth rate EUROUSD to 1.1370 / 1.1399 and take profit at 1.1319.
Levels euro dollar today: support levels 1.1318 - 1.1269 and resistance levels: 1.1373 -1.1422.
Forex forecast GBP / USD GBP / USD today 10/19/2015
Today, the release of important fundamental data is not expected, and the dynamics of trading pound dollar pair will determine the trade and debt markets. On the one hand, the credit markets observed a slight increase in yield of government bonds English to German and American counterparts, which increases the attractiveness to investors of investments in assets of Albion, and supports the demand for sterling. On the other hand, most commodities showing a decrease, which is a positive factor for the greenback, as the value of commodity is denominated in greenbacks with Franklin. Do not leave without attention and a significant increase in crude oil inventories in the United States for the first ten days of October, which will put pressure on the oil quotations and will enhance sales in the commodity market. If it were not positive on the bond market - a pound today boldly could be sold. But, considering the above situation, such operations should be postponed for a while.
Forex. Recommendations for the pound / dollar today as traders on the pound against the dollar during trading worth waiting in flat trading within the range of 1.5385 -1.5485.
The levels for the pair GBP / USD today: support levels: 1.5427 - 1.5382 and resistance levels: 1.5466- 1.5508.
Forex forecast dollar / yen USD / JPY today 10/19/2015
Japan and the United States as the first trading day traders delight of important macroeconomic statistics.Against this background, the pair trades on USD / JPY USD / JPY today will determine the mood on global stock exchanges. As already mentioned, today in trading in Asia on China should not wait for negative GDP data for the third quarter, which will facilitate the opening of long positions by buyers in the stock market in Tokyo. The demand for "risky assets" will put pressure on the Japanese yen as a funding currency. Given these factors, traders today in trading worth waiting for smooth growth of the US dollar.
Forex. Recommendations for the pair dollar / yen today as traders on the dollar in tandem with the Japanese currency today for bidding is open Buy position on the depreciation of the dollar, the yen to 119.25 / 118.95 and 119.85 at Target.
Levels of dollar / yen today: support levels: 119.29 - 118.98 and resistance levels: 119.62 - 120.09.