Forex forecast of the euro dollar pair EURUSD today 02/09/2019
Weak data on inflation in the euro area in August leave investors with no choice but to sell the euro and buy European equities. Why? On the tracking week, a regular meeting of the ECB's monetary policy, and investors expect the central bank interest rate cuts. Let me remind you that last month one of the most authoritative representatives of the ECB O. Rehn expressed readiness regulator to take this step to increase inflation in the Old World. The problem of low inflation may lead the economy into a severe depression - the ECB is well aware of and do not want to tempt fate. Additional pressure on the euro could have a downward trend in gold. In the United States last week carried out a survey among private investors and 95% of respondents said that they are buying gold. Usually it is a sign of the completion of the trends and trend reversal.
EURUSD recommendation: Sell 1.1025 / 1.1040, and take profit 1.1000
Forex rate forecast for the pound dollar pair GBPUSD today 09/02/2019
The last two trading days of the British pound traded sideways. Investors now do not know how to act further. On the one hand, Boris Johnson came into conflict with the opposition leaders, and this process may cause a political crisis in the United Kingdom. Investors always avoided political turmoil, because no one knows how all this can be completed. On the other hand, the decline in yield of US government bonds is forcing traders to look for an alternative to the US dollar. The result is a vicious circle: a pound to buy dangerous, and the dollar is not profitable. Today I expect to continue sideways trend as the output in the United States.
GBPUSD recommendation: flat 1.2115 -1.2200
Forex forecast of the dollar yen pair USDJPY today 09/02/2019
The main index of spending on private consumption in the US five months can not exceed the level of 1.7%. Recall that the FRS is oriented to a stable level of 2% with this indicator. This factor indicates the need to reduce the FOMC interest rate, which in turn will support the stock markets, which are closely correlated this currency pair. However, in the United States today is a day off and many investors will refrain from active trading on the stock markets. Against this background, today we can expect a quiet trading during the day. Tomorrow, in my opinion, we will see an upward trend in the stock markets, which have a positive impact on quotations of USDJPY.
USDJPY recommendation: flat 106.00 -106.50