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Main » 2019 » August » 9 » Forex forecast and recommendations today 09.08.2019: EUR / USD - US statistics and dynamics of gold, GBP / USD - GDP data in the UK,
Forex forecast and recommendations today 09.08.2019: EUR / USD - US statistics and dynamics of gold, GBP / USD - GDP data in the UK,


Events today:

11:30 MSK. United Kingdom: Change in GDP for the 2nd quarter.

15:30 MSK. US Producer Price Index for July.

The euro dollar forex trading forecast for EURUSD today 09/08/2019

For the euro now there are both good and bad factors. On the one hand, macroeconomic statistics from the US Producer Price Index for July may disappoint investors weak data, due to lower raw material costs. This factor may cause a new wave of reduction in yield of US government bonds. Against this background, it is possible to expect short-term depreciation of the dollar quotation, which in turn have a positive impact on the value of the euro. On the other hand, the leading stock markets of the world show growth of quotations in the past two days, forcing investors to take profits on gold, which this week has renewed six year high and broke the mark of $ 1500 / ounce. Since there is a strong correlation between gold and the euro, this factor can be caused by reduction of quotations of the single currency.

EURUSD recommendation: flat 1.1160 -1.1240




Pound Dollar GBPUSD forex forecast on 08.09.2019 segodgya

The main event of the day will be the publication of data on UK GDP for the second quarter. Composite PMI Markit index indicates a decline of GDP. In my opinion, the final figure will be released at the level of the median forecasts, which is a neutral factor for the pound. In the afternoon, after the publication of statistics from the US, you can expect a moderate growth of the British currency. Is expected to release the negative output of Producer Price Index for July, which will put pressure on the dollar.

GBPUSD recommendation: flat 1.2100 -1.2190



Dollar against the yen forek USDJPY forecast for today 09/08/2019

Decrease in the index of "fear" the VIX and the upward trend in the stock markets will support this currency pair. Early in the morning, Japan issued a release on the GDP for the second quarter, which surpassed the estimation of investors - rose by 0.4%, while the market expected a 0.1% increase. Japan's Nikkei 225 stock index today is one of the leaders of growth in the Asia-Pacific region. As the USDJPY is strongly correlated with the equity markets, this is a positive signal for the "bulls". Investors are scored on the US trade war, and China, and buy depreciating stocks. While it is possible to speak only about the short-term upward trend in the stock markets. For a good trend needed positive comments on Twitter US president. Now they are not. D. Trump this week every day berates the Fed and encourages them to quickly cut interest rates.

USDJPY recommendation: Buy 105.95 / 105.70 and take profit 106.40



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