Events for today:
11:30 MSK. UK: Consumer price index for June.
17:30 MSK. US data on stocks of crude oil from the Department of Energy in June.
The euro dollar forex EURUSD forecast for today 17/07/2019
Today, for the EUR / USD pair formed a mixed background. On the one hand, the possible reduction in EURUSD quotations on the background of the negative dynamics of the credit market, where the yield of government bonds in Germany decreased in relation to the American and British papers. On the other hand, the positive data from the United States on oil stocks could cause the bullish rally in the market of oil, which could support the euro as the single currency is correlated with #BRENT. Premier of the State Council of China Li Keqiang during a meeting with economists and business representatives said that the Chinese government will adjust policy in response to the emerging challenges if necessary. Li Keqiang confirmed earlier voiced plans to carry out the planned tax cuts, as well as measures to reduce the cost of borrowing for small businesses. For the euro is a positive signal.
EUR / USD recommendation: flat 1.1190 -1.1250.
Pound Dollar GBPUSD forex forecast for today 17/07/2019
In the course of trading again intervened policy - on the eve of the debate have been the main contenders for the post of British prime minister. Boris Johnson and Jeremy Hunt in favor of "hard BREXIT". High political risks make the investors get rid of the British currency. The yield on two-year UK government bonds is now at 0.57%, which is 0.18% below the Bank of England. If the yield goes below 0.5%, then we can expect strong sales of the British currency. Today, in the middle of the European session it will be published on the release of inflation in the United Kingdom in June. average earnings growth rate in May reached a nine-year high, which in turn can cause an increase in the consumer price index. In the US session should be pay attention to the report on oil reserves in the United States - because of bad weather in the Gulf of Mexico, American oil companies have suspended production of hydrocarbons in the last week, that allows us today to rely on the release of positive data. The growth of oil prices to the level of 65.50 #BRENT positive impact on the value of the pound.
GBP / USD recommendation: Buy 1.2406 / 1.2380, and take profit 1.2450
Dollar against the yen forex forecast pair USDJPY today 07/17/2019
USD / JPY has two reasons to open long positions Buy.
First, investors have gradually sell gold, which is a negative factor for the yen as the currency of Japan has a strong correlation with the precious metal.
Second, the start of the corporate earnings season in the US runs on a positive note. This week, the positive results have given US banks Citigroup, JPMorgan, Goldman Sachs and one of the world's leading consumer chemistries Johnson & Johnson. All companies exceeded market expectations in terms of revenue and net profit. Let me remind you that last month, economists investment banks and financial media waiting for bad corporate reports and frightened traders collapse in the stock market. In fact everything goes differently - the American market last four weeks update the historical maximum. For the USDJPY pair is a good sign, as the pair is correlated with the index Dow Jones Industrial Average.
USD / JPY recommendation: Buy 107.94 / 107.75 and take profit 108.41