15:30 MSK. US Producer Price Index for August.
17:30 MSK. US data on stocks of crude oil from the Ministry of Energy in August.
The euro exchange rate against the dollar forex forecast for EURUSD today 09/11/2019
Current levels in the euro attractive to open Sell positions. Tomorrow the ECB will announce its verdict on monetary policy. Lower inflation in the euro area makes the central bank to take measures to accelerate economic growth in the region. Investment banks expect the ECB deposit rate decrease by 0.1% and the launch of QE program (buying bonds) from 1 October. If the ECB will only lower interest rates, we expect a slight decline in the euro, they will be realized if both factors, the euro can demonstrate a good downtrend. What will be the result? We'll find out tomorrow, and now the euro interest for sales, as we see the sell-off in gold, which is negative for the single European currency, which has a direct correlation with the precious metal.
EURUSD recommendation: Sell 1.1060 / 1.1080, and take profit 1.1020
Pound dollar forex forecast pair GBPUSD today 11/09/2019
To pound is formed by a positive background. Firstly, the positive macroeconomic statistics from the UK labor market indicates that inflation will not decrease at least, and at best it will grow. Against this background, the Central Bank of England will be forced either to keep rates at the current level or increase it in 2020. To pound is a positive signal, because the competitors are thinking about reducing rates. Secondly, the bullish rally in the oil market have a positive impact on the value of the pound, since there is a correlation between GBPUSD and BRENT. The oil market is correlated after the stock index in the first place followed by # SP500. Oil has established on the eve of a fresh five-week high, and I expect a continuation of the uptrend.
GBPUSD recommendation: Buy 1.2335 / 1.2316, and take profit 1.2380
Dollar yen forex forecast USDJPY today 11/09/2019
Continuation of the bullish rally in the stock markets indicates the development of the upward trend in the currency pair. In my view, the bullish rally in the stock markets will last at least until September 18, when the US Federal Reserve will hold its meeting and will lower interest rates at 0.25%. Possible work rule: buy on rumor - sell the fact. As a maximum -ralli in equity markets will last until mid-October, as loose monetary policy in the euro area, the United States and China will force investors to build long positions in the equity markets. In the world now falling bond yields, and investors are actively buying shares in the calculation to obtain a high yield.
USDJPY recommendation: Buy 107.50 / 107.28 and take profit 107.95
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