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Main » 2019 » December » 3 » Forex forecast and recommendations today 03.12.2019: EUR/USD - Trump main newsmaker, GBP/USD - British index PMI, USD/JPY
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Forex forecast and recommendations today 03.12.2019: EUR/USD - Trump main newsmaker, GBP/USD - British index PMI, USD/JPY

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the euro against the dollar Forex EURUSD forecast for today 03/12/2019
 

The main newsmaker of the beginning of the week was Donald Trump, who announced duties on steel and aluminum for Brazil and Argentina. On the market as soon as rumors spread that the next in the list of duties and that China will bargain with China will not take place. Personally, I do not understand why cross a bulldog with a rhinoceros? Latin American countries is one thing, China's another matter entirely. It is worth noting that the Brazilian stock market on Monday closed trading increase in prices by 0.7%. At first glance, it turns absurd - against the country imposing sanctions, and its market is growing. But if you look deeper, there is no point of absurdity - metallurgy in Brazil plays a small role in the economy, the main of which is the oil and gas sector. So, if the Brazilians are not afraid of these sanctions, why should the rest of this fear. What's to be expected for the euro? The inflow of capital in "risk assets" (oil, copper, stocks, stock index futures, higher-yielding currencies) have a negative impact on the cost of the "safe assets" (the euro, the yen and gold). Why capital will go into the "risky assets"? Current levels of these assets attractive to start the so-called "Christmas rally", which is very often the case in December. Now for this rally has all conditions- many central banks of G-20 reduced the number of interest rates, which traditionally has a positive effect on the cost of "risk assets". Why capital will go into the "risky assets"? Current levels of these assets attractive to start the so-called "Christmas rally", which is very often the case in December. Now for this rally has all conditions- many central banks of G-20 reduced the number of interest rates, which traditionally has a positive effect on the cost of "risk assets". Why capital will go into the "risky assets"? Current levels of these assets attractive to start the so-called "Christmas rally", which is very often the case in December. Now for this rally has all conditions- many central banks of G-20 reduced the number of interest rates, which traditionally has a positive effect on the cost of "risk assets".


EURUSD recommendation: Sell 1.1096 / 1.1110, and take profit 1.1046

 

 

 

 

 

Pound to dollar forex GBPUSD forecast for today 12/03/2019
 

Today should pay attention to the publication of data on the PMI index in the construction of the UK. On the eve of the market participants had a similar rate only at the industry which though was better than the median forecast, but the seventh month in a row is below the key level of 50%. What's to expect from indicator for the construction industry? Most likely, the same dynamics as the day before. Global changes in the British economy is still there, because London has once again asked to ES postponement of BREXIT until 31 January 2020. This is not the first postponement and political risks of a negative impact on the UK business, especially in the real estate sector, which is heavily dependent on the mood of international investors. On the other hand, Boris Johnson has promised to put an end to Poros BREXIT January 31 next year and many investors believe him, which in turn eliminates the political risks. Is this good or bad for the pound? It is moderately positive signal. Sterling this month may test the annual maximum, located at the level of 1.3011.


GBPUSD recommendation: Buy 1.2925 / 1.2910, and take profit 1.2970

 

 

Dollar against the yen USDJPY Forex forecast for today 12/03/2019
 

Donald Trump's "burst" yesterday - last week he was quite passive in Twitter, only occasionally wrote about their own affairs, but on Monday he was pleased with the public portion of the whole message. Got everything: he scolded Brazil and Argentina, promising them the sanction of metallurgy, NATO partners because they are poorly paid contributions, the Democratic Party of the United States, which is engaged in a silly thing (impeachment Trump), the US Federal Reserve for the fact that the central bank does not want to devalue dollar. Equity markets have traditionally negatively perceived Trump messages and together showed a decline except that Brazil itself, against which promised new taxes - the Brazilian market has decided not to be distracted by the "noise" and grew up on the day by 0.7%. It is also worth noting the Turkish market growth of 1%. Turkey and Brazil are developing markets, that in times of panic fall earliest and strongest of all. Here we see quite the opposite reaction. What does this mean? Once investors buy emerging markets, we are expecting growth in the developed markets (US, Germany, Japan), which in turn have a positive impact on the value of the currency pair USDJPY.


USDJPY recommendation: Buy 109.09 / 108.85 and take profit 109.47

 

 

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