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Main » 2019 » September » 12 » Forex forecast and recommendations today 12.09.2019: EUR / USD - the decisive day for the euro, GBP / USD - the ECB and the oil will affect
10:12
Forex forecast and recommendations today 12.09.2019: EUR / USD - the decisive day for the euro, GBP / USD - the ECB and the oil will affect

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Events today:

14.45 MSK. Eurozone: The publication of the ECB's decision on the basic interest rate.

15:30 MSK. US: Consumer price index for August.


The euro exchange rate against the dollar forex forecast for EURUSD today 09/12/2019
 

It is crunch day for the euro. By the opening of the US trading session, the ECB will announce its verdict on monetary policy. Investors expect lower interest rates on deposits, and the launch of the bond buyback program. The credit market pessimism reigns in full: German yield spreads of government bonds / US and Germany / UK show a decline, signaling a decrease in quotations of the euro. How much will fall today, the euro will depend on the comments by ECB President Mario Draghi. Further, the United States will publish the latest report on inflation for August, which may please the traders positive data, because the day before we saw the growth of the index of producer prices by 0.1%. For the dollar is good news.


EURUSD recommendation: Sell 1.1025 / 1.1045, and take profit 1.0977.

 

 

 

 

 

Pound to dollar forex forecast GBPUSD today 09/12/2019
 

The last two days the British currency traded sideways today can expect out of this range. In my view, the pound show growth for two reasons. First, the ECB's easing of monetary policy will reduce the cross-rate quotations EURGBP, which has a positive impact on the value of the pound. Secondly, I expect the continuation of the bullish trend on the oil market, which has a positive impact on the value of the pound. Oil correlated with stock markets in North America and Europe, which is now at a five-week high. Based on this factor, the black gold can grow to the level of 59 $ / barrel of WTI grade. It is impossible to ignore the decline in US oil shale extraction. Production in Oklahoma has fallen to 58 th. Barrels. / Day. Twenty-nine of the largest US companies are working "to zero" at an oil price of 55 $ / barrel of WTI grade. Now it is this price and for how long the company will be able to work without a profit? Any commercial enterprise is created for profit, otherwise it is a charitable company. Are the American oil companies are philanthropists? Investors should wait for the growth of quotations of oil, as the decline in oil production and oil reserves have a positive impact on oil quotes.


GBPUSD recommendation: Buy 1.2320 / 1.2300, and take profit 1.2375

 

 

 

Dollar yen forex forecast USDJPY today 12/09/2019
 

US stock index # SP500 is traded on the verge of a historic high. Market enough to grow by 0.4% in July to break the record. What this means for a pair USDJPY? Since the Japanese yen is a funding currency in carry trade operations, the bullish rally in the stock markets has a negative impact on the value of the yen. As a result, the USDJPY has a direct correlation with the index # SP500. You can not ignore the other intermarket relationship: Gold becomes cheaper with the growth of the American stock market. Investors sell the precious metal and increase the purchase of corporate shares. Against this backdrop, traders should wait for reduction of quotations of gold in the area in 1485.


USDJPY recommendation: Buy 107.95 / 107.70 and take profit 108.39

 

 

 

Analyst and forex forecast FreshForex

 

 

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