Foreign Exchange Market March 9, 2016, EUR / USD
News forex traders today:
12:30 MSK. UK: Industrial Production for January (the previous value of -1.1% m / m forecast 0.6% m / m).
18.30 MSK. US data on crude oil inventories from the Energy Department.
The euro exchange rate against the dollar today EUR / USD Forecast 03/09/2016
Traders on the euro in tandem with the Americans today are three reasons to wait "bullish" sentiment.
First, yesterday the euro area to please the players with positive GDP data for the fourth quarter, and industrial production in Germany.
The first figure was revised up from 1.5% to 1.6% in annual terms, and the second, after two months of decline, increased by 3.3%. It should be noted that such a moderately positive macroeconomic statistics could support the euro only in the short term. Moreover, the growth of quotations investors can use to build up short positions ahead of the ECB meeting, which is scheduled for Thursday March 10.
Second , the report Tuesday to China's trade surplus contributed to a decrease in "risk appetite" of investors. In February, the trade surplus amounted to 32.59 billion. Dollars, which is 46.23% less than the same period a year earlier. The consensus forecast of economists, investment banks from Wall Street was 51.2 billion. Dollars, and investors clearly were not prepared for such an outcome. As a result, the leading stock markets finished the trading day in the "red zone", which is a positive factor for the euro as a funding currency.
Third , the credit markets observed growth of profitability government bonds in Germany in relation to their counterparts in the US and the UK, that will support the demand for the single European currency.
Forex recommendations on the euro dollar pair for today : During the bidding is to buy a pair of igrokampo euros greenbacks Buy on lowering prices to levels 1.0990 / 1.0960 and goals at the level of 1.1050.
Pound Dollar forecast for today GBP / USD 09.03.2016
Players forex pound to the dollar today in the first half of trading is necessary to pay attention to the report on industrial production of Albion. Leading indicators do not allow to rely on the data output better consensus. The medium-term dynamics of the industrial PMI at the beginning of the year demonstrates the development trend.You can not ignore the balance on the CBI industrial orders, which last ten months shows contraction. UK manufacturers continue to suffer from excessive strengthening of the pound against the euro (the currency of the main trading partner of the UK). On the one hand, some traders may be objected to this remark: Course pair EUR / GBP in January grew by 3.05%, and thus, the British pound weakened against the euro. However, this is certainly a positive factor will be played in the spring, as commercial contracts concluded in advance and reaction to changes in exchange rates comes from the "time lag". The growth of industrial production in January will only be achieved due to the low base of the last two months when the production volume decreased by 1.89%. In the credit markets, the yield of 10-year UK government bonds is reduced in relation to their counterparts from the United States and Germany, which reduces the attractiveness of investments in British assets and will put pressure on the Briton.
Forex recommendations pound dollar pair today : traders pound with bucks today is prodavt Sell couple on the growth rate to levels 1.4235 / 1.4275 at 1.4180 and Take.
The dollar against the yen today Pronoza USD / JPY on 03/09/2016
Against the background of the lack of publication of important macroeconomic statistics should pay attention to the dynamics of the stock and debt markets. Weak economic data from China once again contributed to the outflow of capital from the "risky assets", which is a positive factor for the yen, which is widely used in carry trade operations. On the debt market is also observed growing optimism in respect of assets of the Japanese: the yield differential of US and Japanese government bonds reduced, which will support the demand for the yen.
Forex recommendations to the dollar yen pair today : It is necessary to sell the pair USDJPY Sell on price increases to 112.95 / 113.35 and 112.45 at Target.