Currency market forecast for November 30th, 2015, EUR / USD
News forex traders note:
02.50 MSK. Japan: Retail Sales for October (the previous value of -0.2% y / y; the forecast of 0.8% y / y).
02.50 MSK. Japan: Preliminary data on industrial output in October (the previous value of 1.1% m / m forecast 1.9% m / m).
16.00 MSK. Germany: Preliminary harmonized CPI for November (the previous value of 0.2% y / y; the forecast of 0.3% y / y).
The euro exchange rate against the dollar today, EUR / USD forecast for 11/30/2015
Today the main event on the forex market will yield preliminary data on inflation in Germany in November. The negative trend in the market of "black gold" will exert downward pressure on the CPI leading euro-zone economy. The yield on 10-year German government bonds, which reflects inflation expectations in November decreased by 5 basis points However, the growth of average earnings increases in consumer spending, which is a positive factor for inflation. Against this background, we can expect the release of data within the consensus forecast, which will have a short-term support for the single European currency. On the debt market is mixed dynamics: the yield on the German 10-year government bonds is reduced relative to their counterparts from the US, but the rise to Gilts, which will contribute to a moderate growth of quotations of cross-rate EUR / GBP. You can not ignore the continued downward trend in the market of "black gold" that will have a positive effect on the value of the US currency.
Recommendations for the euro / dollar: Today, traders should not expect sideways trading range 1.0560 -1.0660.
Euro dollar levels for today: support levels 1.0592 - 1.0520 and resistance levels: 1.0617 -1.0673.
Pound / dollar today GBP / USD forecast for 11/30/2015
Players for the sterling paired with a couple of Americans have reasons to wait for bearish sentiment.
First, the debt market is still negative trend observed for UK assets. The yield on 10-year government bonds is reduced relative to their counterparts from the US and Germany. And the spread of US bonds and the UK on Friday exceeded 40 basis points Published on Friday, November 27 for the second estimate of UK GDP remained unchanged at 0.5%, has deprived the British currency continued opportunities in the short-term corrective upside. However, in the revised GDP data is not so bad as it might seem at first glance. The volume of investment has been revised by 0.7% in the positive side, compared with the previous quarter and by 6.6% compared to the same period last year. British companies are increasing their investments in investment, which indicates confidence in the future.
Secondly, sales on the product market also impact positively on the value of the US dollar, as the cost of raw materials denominated in dollars. Oil and industrial metals again show weakness - investors are pessimistic about the prospects for economic growth in China and the whole world economy.
Recommendations pair pound / dollar today players in forex trading is to sell the first couple Sell on the growth of quotations to 1.5050 / 1.5075 with the targets at 1.4993.
The levels for the pair GBP / USD: Support levels: 1.5026 - 1.4993 and resistance levels: 1.5052- 1.5101.
The dollar against the yen today USD / JPY forecast for 11/30/2015
Two reasons for traders to the dollar yen pair wait predominance bearish sentiment in Asian trade.
Firstly, the release of Japan's industrial production in October can give a pleasant surprise on the background of the positive dynamics of the index PMI, as well as increased demand for machinery and equipment in September, which traditionally indicates an increase in production capacity.
Second, the panic Friday in the Chinese stock market may continue on Monday that would lead for a down other Asian markets and will facilitate the closure of operations carry trade, causing demand for Japanese yen as a funding currency. It is impossible to ignore the downward trend in the commodity market.Oil prices and industrial metals are falling, which is supporting the US currency as the price of commodities denominated in dollars. On Friday, the bond market has been an expansion of the differential yields on US government bonds, and Japan, which generates a first signal to the completion of a technical correction, which is observed from November 18. Although there is no hurry and better wait for the positive dynamics on Monday.
Recommendations for the dollar yen pair: Today, traders should wait in flat trading within the range of 122.15 -123.05.
Dollar yen levels today :: support levels: 122.61 - 121.22 and resistance levels: 123.00 - 123.60.