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Main » 2019 » July » 10 » Forex forecast and recommendations today 10.07.2019: EUR / USD - speech of the US Federal Reserve Chairman Congrès in CCE , GBP / USD
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Forex forecast and recommendations today 10.07.2019: EUR / USD - speech of the US Federal Reserve Chairman Congrès in CCE , GBP / USD

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Events today:

17:00 MSK. US: Federal Reserve Board of Governors Chairman Jerome Powell will deliver a speech.

21.00 MSK. USA: Publication of minutes of the Fed.


The euro dollar forex EURUSD forecast for today 10/07/2019
 

The main event of the day today, the speech of US Fed chairman in Congress. Chairman of the Federal Reserve will act in front of the senators with semi-annual report on the state of the US economy. Investors are interested in only one question - whether the US Federal Reserve to cut rates in the current year and how many times? Try to understand this difficult matter. Firstly, it should be noted market expectations. Futures on the rate of FED is now indicates 100% chance of a rate cut on 31 July and 70% probability of a rate cut on 18 September. The yield on 2-year government bonds, which is closely correlated with the Fed's rate now stands at 1.88%, which is 0.495% lower than the key rate. It turns out that once rates fell exactly, but the second time in question. Secondly, you must look at key macroeconomic indicators. ISM index of business activity in the industry in the first half was 53.8%, against 59.2% a year earlier. The decline is primarily due to the US trade disputes and China. This issue is still not resolved, and the risks remain. The negative trade balance for the five months amounted to 256.8 billion. USD., Which is 1.7% higher than a year earlier. To remedy the situation it is necessary to reduce the dollar exchange rate and the reduction rate can help it. Sales of new homes in the first five months decreased by 9.14%, which is primarily caused by high interest rates on mortgage loans. Reducing the Fed rate will improve this figure. What we have in the dry residue? D. Powell may declare the necessity of a moderate decline in interest rates. The decline is primarily due to the US trade disputes and China. This issue is still not resolved, and the risks remain. The negative trade balance for the five months amounted to 256.8 billion. USD., Which is 1.7% higher than a year earlier. To remedy the situation it is necessary to reduce the dollar exchange rate and the reduction rate can help it. Sales of new homes in the first five months decreased by 9.14%, which is primarily caused by high interest rates on mortgage loans. Reducing the Fed rate will improve this figure. What we have in the dry residue? D. Powell may declare the necessity of a moderate decline in interest rates. The decline is primarily due to the US trade disputes and China. This issue is still not resolved, and the risks remain. The negative trade balance for the five months amounted to 256.8 billion. USD., Which is 1.7% higher than a year earlier. To remedy the situation it is necessary to reduce the dollar exchange rate and the reduction rate can help it. Sales of new homes in the first five months decreased by 9.14%, which is primarily caused by high interest rates on mortgage loans. Reducing the Fed rate will improve this figure. What we have in the dry residue? D. Powell may declare the necessity of a moderate decline in interest rates. To remedy the situation it is necessary to reduce the dollar exchange rate and the reduction rate can help it. Sales of new homes in the first five months decreased by 9.14%, which is primarily caused by high interest rates on mortgage loans. Reducing the Fed rate will improve this figure. What we have in the dry residue? D. Powell may declare the necessity of a moderate decline in interest rates. To remedy the situation it is necessary to reduce the dollar exchange rate and the reduction rate can help it. Sales of new homes in the first five months decreased by 9.14%, which is primarily caused by high interest rates on mortgage loans. Reducing the Fed rate will improve this figure. What we have in the dry residue? D. Powell may declare the necessity of a moderate decline in interest rates.


EUR / USD recommendation: Buy 1.1200 / 1.1180 and prof take IT 1.1260

 

 

 

 

 

 

Pound Dollar GBPUSD pair Fores forecast for today 07/10/2019
 

On the debt market the change of mood - the yield of US bonds is reduced, and the yield of the British papers demonstrates, though moderate, but still growth. For the GBPUSD is a good signal. Additional support for the British currency could have a positive dynamics of the oil market. Investors should wait for the growth of quotations in the area BRENT 65.50 for two reasons. Firstly, the Russian company Rosneft reported a decrease in production at the field Yuganskneftegaz. Hydrocarbon production is reduced through July. Secondly, today, and tomorrow there will be disruptions in oil supplies from the North Sea due to emergency repair work on one of the oil pipelines.


GBP / USD recommendation: Buy 1.2450 / 1.2430 and p take rofit 1.2555

 

 

 

The dollar yen pair USDJPY Forex forecast for today 10/07/2019
 

Today, the players of the pair USD / JPY waiting for a positive and a negative. Positive for the USDJPY pair is a continuation of the bullish rally in the US stock market. The yield on two-year US Treasury bond is still 0.5% lower than the discount rate the Fed, which signaled the need to reduce the interest rates of the Federal Reserve meeting on 31 July. Market shares is a positive signal because the lower the interest rate, the higher the value of the shares, and vice versa. The bad news is the negative dynamics of the debt market, where the yield spread of US and Japanese government bonds reduced, which will provide support to the Japanese yen.


USD / JPY recommendation: flat 108.40 - 109.05

 

 

 

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