The foreign exchange market on February 17, 2016, EUR / USD
News forex traders today:
12:30 MSK. United Kingdom: Unemployment rate for December (the previous value of 5.1%, forecast 5.0%).
12:30 MSK. In Great Britain's: Change of the average wage level for December (the previous value of 2.0% 3m / y, forecast 1.9% 3m / y).
16.30 MSK. United States: Producer price index for January (the previous value of -0.2% m / m forecast 0.2% m / m).
17.15 MSK. US: Industrial Production for January (the previous value of -0.4% m / m forecast 0.3% m / m).
22.00 MSK. US: Publication of minutes of the Fed.
The euro exchange rate against the dollar today EUR / USD Forecast 02/17/2016
Euro clamped in a vise. On one hand, yesterday's data on the business climate in Germany by ZEW show increasing pessimism among financial experts and could encourage sellers to build short positions. In February the index fell to the lowest level since October, 2014.
Mario Draghi earlier reiterated the readiness of the ECB to the possible further easing of monetary policy in March. On the other hand, late in the evening today released the minutes of the last meeting of the US Federal Reserve, which probably may be a "pigeon" rhetoric of the monetary authorities on the background of falling energy prices and slowing global economic growth. Against this background, it is necessary to wait for pressure on the greenback. On the bond market the yield on 10-year German government bonds of moderate growth in relation to the US, which increases the attractiveness of investments in the assets of the Old World.
Trading recommendations for the pair euro dollar today 02.17.2016 : Players on the euro with the dollar should not expect a flat market in the range 1.1080 -1.1200.
The pound against the dollar today GBP / USD Forecast 02/17/2016
Today the foreign exchange market dynamics of the pair GBP / USD will determine the report on the labor market of the United Kingdom. Investors are likely to focus not so much on the unemployment rate as the indicator of average earnings, as it had traditionally been seen as a harbinger of inflation. After yesterday's moderate negative inflation data for January, today it is difficult to wait for a strong statement at the average wage. Although, at 12.30 MSK. Totals still exceed the consensus forecast of 0.2% - we will see an increase to the upper boundary of the previously indicated range. In another case (0.2% reduction), the Briton is testing 1.4350 support area. It should be noted that this indicator is quite difficult to predict and more effectively sell it for the publication of data fact. The market of "black gold" just do not leave without attention: Russia and OPEC agreed to "freeze" the level of oil production to stabilize the market, which caused a decrease in quotations of the main reference varieties. It worked well-known stock exchange rule: "Buy on rumors -prodavay on facts."Most likely, this trend is corrective in nature, and in the near future, "bullish" sentiment resurfaced in the oil market. This factor, in turn, has traditionally has a positive effect on the value of sterling. Thus, if in the European session we will get a positive report on average earnings, the pound formed a strong buy signal.
Trading recommendations for the pair pound dollar today 02/17/2016 : The players to buy the pair Pound Dollar Buy at 12.30 MSK, if the average earnings figure for the UK is better consensus forecast of 0.2%. The purpose of paragraph 70.
Traders selling the pair Pound Dollar Sell at 12.30 MSK, if the figure for the UK average earnings worse than the consensus forecast of 0.2%. The purpose of paragraph 50.
Dollar against the yen on today Forecast 17.02.2016 USD / JPY
In the first trading forex, the dynamics of the dollar yen pair is determined by the "risk appetite" of investors.In whole, the world's leading stock markets dominated by "bullish" sentiment and in this regard, it is worth continuing to wait for the correction of growth in a given currency pair. In the US bond market interest rates on 3-month Treasury bills, which are an indicator of demand for liquidity, reduced the second week, which also confirms the moderately positive background for the stock market. Now we need to make very conservative estimates, so this year there is high volatility in the markets. In the second half of the trading in the US will come out of the last FOMC meeting minutes. Most likely, the theses of the communiqué will coincide with the comments on Janet Yellen speech in the US Congress: the labor market is showing a positive trend, however, significantly increased risk due to low energy prices and slowing global growth. Then the dollar index basket (USDX) has reacted to this statement symbolically lower prices. Today, the trend may be repeated.
Trading recommendations for the dollar yen pair today 02/17/2016: The players on the dollar with the yen today is worth buying a pair Buy's price fall 113.75 / 113.45 and Take at 114.30.
Analyst « FreshForex »