Foreign Exchange Market Forecast October 6, 2015, EUR / USD
In forex trading Monday slightly greenbacks could return loss - USDX dollar index closed 96.25. The euro dollar EUR / USD on the background of the demand for "risky assets" which caused pressure on the euro as a funding currency closed trading with losses of 0.3%. Pound Dollar GBP / USD on the background of the negative report on PMI index for the services sector in the UK closed down 0.23%. Dollar Yen USD / JPY on the background growth of the world's leading stock markets gained 0.50%.
The main events forex today, to be brought to the attention of:
15.30 MSK. US trade balance for August (the previous value -41.86B; Forecast 42.2B).
Forex forecast for the euro dollar EUR / USD today 06/10/2015
Today, in the first half of trading on the Forex market release of important data is expected, and against this background, traders should pay attention to trading of debt and stock markets. After the release of a weak report on non-farm payrolls in the US in September, market participants on the stock exchanges relieved: negative data significantly reduced the likelihood of tighter monetary policy by the Federal Reserve, which is for the stock market is positive. The day before there was an increase "risk appetite" - traded in the black world's leading stock markets and high-yield cross-rates. In this regard, the European currency will come under pressure as a funding currency. Debt Market In contrast, signals a moderate demand for European assets: the yield spread on 10-year US government bonds and Germany reduced two trading days in a row. In the afternoon, the United States will publish a report on the trade balance for August. The index of the dollar basket over the summer showed little volatility, which signals the release of the data within the consensus forecast with small deviations.
Forex recommendations for the euro dollar (EUROUSD): Today during the bidding for the euro dollar pair is worth waiting for in a flat trading within the range of 1.1120 -1.1240.
Levels euro dollar today: support levels 1.1155 - 1.1096 and resistance levels: 1.1216-1.1269.
Forex forecast for the pound dollar GBP / USD today 06/10/2015
According pound dollar pair in the forex market today, will rule the roost "bulls" and this is for two reasons.
Firstly, Forex traders have not played a strong peak yield of two year Treasury securities in the past three weeks. Melt the eyes of hope that the Fed will move to tighten monetary policy in the fourth quarter of this year. The current level of short-term bonds yield 20 bp lower than the annual maximum, while the dollar index basket USDX is still above the 96 figure. Against this backdrop, investors may continue to take profits on short positions. It is worth noting that yesterday grew the yield on 10-year British government bonds relative to their German and US counterparts, which increases the attractiveness of investing in the assets of Albion.
Secondly, the market of commodities on Monday was in the "green zone": oil and industrial metals also enjoyed strong demand, which is negative for the US currency, as the cost of raw materials denominated in US dollars.
Forex recommendations on the pair Pound Dollar (GBPUSD): Today, traders pair Pound Dollar traders should open a Buy position on the depreciation of the sterling to 1.5140 / 1.5105 and goals at the level of 1.5210.
The levels for the pair GBP / USD: Support levels: 1.5101 - 1.5052 and resistance levels: 1.5169- 1.5206.
Forex forecast of the dollar, the yen USD / JPY today 06/10/2015
Today, the dollar against the yen is worth waiting for trade sideways channel. On the one hand, the high demand for "risky assets" will put pressure on the Japanese yen as a funding currency. Growth of carry trade operations on the background of pessimism about interest rate hikes in the United States reduces the attractiveness of investment in "safe haven", which is traditionally the Japanese currency. On the other hand, the US continues to disappoint market participants' negative data. ISM index for the services sector in September was 56.9%, thus dropping below the annual average. It should be noted, and a reduction in new orders, especially in the retail sector. In addition, retailers have reported a reduction and employment. Thus, we get the first alarm. Reducing personal consumption is a very negative factor for economic growth. In this context, the growth potential in this currency pair will be limited area of 121 pieces.
Forex recommendations for the pair dollar yen (USDJPY): Today, for trading on the foreign exchange market the dollar yen pair is worth waiting for in a flat trading within the range of 119.75 -120.95
Support and resistance levels the dollar, the yen today: support levels: 120.36 - 120.09 and resistance levels: 120.73 - 121.37.