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Main » 2019 » July » 3 » Forex forecast and recommendations today 03.07.2019: EUR / USD - The US statistics will determine the course of trading, GBP / USD
Forex forecast and recommendations today 03.07.2019: EUR / USD - The US statistics will determine the course of trading, GBP / USD

Events today:

15.15 MSK. USA: Change in the number of employees from ADP.

17:00 MSK. US: ISM composite index for the ISM non-manufacturing sector.

17:30 MSK. US data on crude oil inventories from the Energy Department.


The euro dollar forex trading forecast for EURUSD today 03/07/2019

In the US today, there are three important report that will determine the course of trading on the next few days. The first two indicators (employment from ADP and business activity of the ISM for the service sector) will help to understand how the US Federal Reserve may cut interest rates in coming months. The report on oil stocks in the US market is important for storage of oil, but also have an impact on the dollar as the US currency and oil have an inverse correlation. It is worth noting, the first two indicators are difficult to predict and their need to trade upon release of data - better than expected at the output of the median data, you must open positions Sell and vice versa. As for the oil market, it is possible to expect reduction of stocks that have a positive impact on oil quotes. It is impossible to ignore the news of the nomination of Christine Lagarde for the post of chairman of the ECB.

EUR / USD recommendation: Buy 1.1267 / 1.125 and take profit 1.1321





Pound dollar forex forecast pair GBPUSD today 03/07/2019

Last month GBP / USD pair is clamped to "gripe". Now for the pound evst negative and positive news, the market can go in any direction. Negativity is the possibility of reducing interest rates Bank of England, since business activity in the industry and construction sector shows a strong decline. Who would not say, but waiting BREXIT business many British companies. Positive expectation is to reduce the interest rate the US Fed. And in America, the rate will be reduced before in the UK. Nearest FOMC meeting will be held on 31 July. Commercial Counselor of the US president Peter Navarro urged the Federal Reserve as soon as possible to reduce interest rates. Political pressure on the Fed increases, which is negative for the US dollar. What to do in this situation: to buy or sell? Now hard to say. Now it is advisable to buy the British index # FTSE100, as expectations the Bank of England lowering rates and the Fed will have the strong support given index. On the eve # FTSE100 showed growth of quotations by 0.8% - it was the best result among the European and North American stock indexes. It is worth waiting for the continuation of positive momentum and test the psychological level of 7700.

GBP / USD recommendation: flat 1.2550 1.2640




Dollar against the yen forex forecast for today USDJPY 03.07.2019

The course of trading will be determined by the dynamics of stock markets. US stock market so far waited important news on the labor market, while European indexes have already started to rise. In general, no matter what the news on Friday Non-Farm does not come out, I think that the stock markets will show growth. Why? The whole point in stimulating the economy by central banks. This week cut interest rates Bank of Australia, at the end of the month a similar move could make the US Federal Reserve and the Bank of Russia. China's central bank has not announced a rate cut, but said the reduction of reserve requirements for banks that is also a method of stimulating the economy.

USD / JPY recommendation: Buy 107.50 / 107.30 and prof take IT 108.00




FreshForex analyst




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