Events for today:
11:30 MSK. United Kingdom: Changes in the level of average earnings in June.
15:30 MSK. US: Retail Sales for June.
16.15 MSK. US: Industrial Production for June.
The euro dollar forex trading forecast for EURUSD today 07/16/2019
The currency of the Old World today demonstrates the fluctuations in the level of 1.1250. We try to weigh the "pros" and "cons" to understand the possible trend. The calendar of events two statements can be identified today from the US retail sales and industrial production. Most likely, both indicators can not please investors strong data, as in America in the early summer of the share of the economically active population. Echo US trade war - China prevents American businesses. Dollar is a negative factor. On the commodity market, we are seeing good demand in the metals segment, which is positive for the euro, which is correlated with the commodity. Commodity market received a positive portion of the high places, which reported about the growth of industrial production and an increase in investment in fixed assets. "China's factory" is gaining momentum and is ready to increase the consumption of metals. But in the ointment has a fly in the ointment - 25 July The ECB will hold its regular meeting, which may announce lower interest rates. This is a deterrent for the euro.
EUR / USD recommendation: Buy 1.1250 / 1.1230, and take profit 1.1312
Pound Dollar GBPUSD forex forecast for today 16/07/2019
Upward correction in the GBP / USD pair has not finished yet. This is a correction rather than a reversal of the "bear" trend, as investment funds, according to the CFTC reports, increased short positions up to a maximum in the last 11 months. Investors fear the so-called "hard BREXIT", when the British withdrawal from ES It is made without an agreement with Brussels. Now the market is in anticipation of the Fed lowering interest rates - this factor will support the British in the next two weeks.
GBP / USD recommendation: Buy 1.2500 / 1.2477, and take profit 1.2590
Dollar against the yen USDJPY Forex forecast for today 16/07/2019
The USD / JPY pair today forex players waiting for a mixed background. On the one hand, it is possible depreciation against the background of a drop in yield of US securities. decline in yield debt obligations led to sell-off in emerging market currencies. Usually emerging markets begin to "move" before currencies in developed markets - on this background, we can expect a fall in the dollar. On the other hand, the start of the corporate earnings season in the United States was on a positive note, it can count on the continuation of the bullish rally in the US stock market, which can support USDJPY, which has a strong correlation with the index # SP500. On Monday, US bank Citigroup has reported an increase in revenue and profit by 1.5% and 7%, respectively - the market expected growth rates of 0.2% and 5%.
USD / JPY recommendation: flat 107.50 -108.40
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