Events traders today:
10:30 MSK. Germany: PMI in the manufacturing sector in July (the previous value of 55.9, forecast 55.5).
The euro dollar forecast EUR / USD pair today 24/07/2018
Today the EUR / USD pair is waiting for a mixed background. On the one hand, the possible growth of the euro against the background of positive data on the industrial sector PMI in Germany at the expense of growth in factory orders. Order growth is traditionally observed in the summer. On the other hand, the trend has changed in the credit market that could cause a drop in the single European currency. If last week we have seen the growth of the German bond yield spread and the US, on the eve of this indicator showed a strong decline. The yield on 10-year US bonds is now at 2.95%, and in the case of growth in the area of the psychological level of 3% will be a strong demand for the dollar.
#EURUSD recommendation: flat 1,1640-1,1730.
Pound Dollar forecast pair GBP / USD today 07/24/2018
Today, there are both positive and negative news for the British. Positive: This week investors on the raw material market should not expect the growth of the black gold, which had a positive impact on the cost of the UK currency, because of the strong correlation of GBP / USD and Brent. US President Dwight D. Trump eve harshly criticized the Iranian authorities, who on Sunday announced a possible war. Fight with US forces in Iran will not be enough, but verbal intervention, which apparently will continue until 4 November (beginning of sanctions against Iran) will support oil quotations. Negative for sterling - the dynamics of the credit markets, where the yield of British 10-year bonds fall in the securities of the United States and Germany.
#GBPUSD recommendation: flat 1.3060 -1.3150.
Dollar yen forecast pair USD / JPY today 07/24/2018
USD / JPY today - two reasons Buy.
First, today there is a strong growth of stock markets in Asia. Futures on the US S & P500 index in the morning renewed a five-month high. For the pair USD / JPY - a good sign, as it is strongly correlated with the equity markets.
Second, the growth yield spread of US and Japanese 10-year bonds in the credit market, support the greenback. In this regard, it can be concluded that the three-day correction in the USD / JPY pair ended, and is likely to continue the upward trend.
#USDJPY recommendation: Buy 111,25 / 110 , 99 and take profit 112,00.
Company analyst FreshForex