The euro exchange rate against the dollar today, EURUSD Forecast 08/08/2019
Passions around the United States and China have not yet subsided a trade war - J. Trump has quietly reacted to the surge in volatility on the financial markets. In his twitter US President wrote that he expected such a reaction of the market. Trump continues to criticize the Fed and requires a rapid reduction in interest rates. Four of the former head of the US Federal Reserve issued a sharp condemnation of the American president's actions - former heads of the Fed needs to leave alone D. Powell. It is difficult to understand who is fighting D. Trump - he opposed the Democrats in Congress, against the Fed, against China, Iran, Venezuela, North Korea and Russia to the situation incomprehensible. What we have in the dry residue? German yield spread of government bonds / US demonstrates the rapid growth of 1 August. This factor has caused a strengthening of the euro at 200 n., And this trend will continue.
EURUSD recommendation: Buy 1.1184 / 1.11 60 and take profit 1.1225
Pound to dollar forecast GBPUSD today for today 08/08/2019
The dollar index USDX since the beginning of the month shows a decline, which is primarily due to expectations the Federal Reserve cuts interest rates. CME Group's FedWatch, which shows the market expectations for Fed rate indicates the probability of three interest rate cuts before the end of the year. It remains three meetings of the Central Bank and each of them is expected to fall rates at 0.25% until the end of the year. Thus, the reduction of interest rates in the current year could reach 1%. In early summer investors expected reduction rate of 0.5%. This factor will exert pressure on the US dollar!
GBPUSD recommendation: Buy 1.2138 / 1.21 20 and take profit 1.2191
Dollar against the yen today USDJPY Forecast 08/08/2019
Today I expect the reduction of quotations of gold, which has a positive impact on the value of this currency pair, as between the instruments observed a strong inverse correlation. On the eve of the precious metal tested the psychological level of 1500, which is the highest since April 2013. The sharp rise in gold is always accompanied by a sharp increase in "fear index," the VIX, but this is not observed. In my opinion, investors will now be record profits on "Long" in gold, that will cause a technical correction down. This factor has a positive impact both on the cost of a pair of USDJPY, and the major stock indices of the world.
USDJPY recommendation: Buy 106.07 / 105.85 and t ake profit 106.53
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