Currency market forecast for December 1, 2015, EUR / USD
Forex traders in the news today:
04.45 MSK. China PMI index for the manufacturing by the Markit in November (the previous value of 48.3, forecast 48.3).
12.30 MSK. United Kingdom: PMI index for the manufacturing by the Markit in November (the previous value of 55.5, forecast 53.7).
18.00 MSK. US ISM index for the manufacturing for November (the previous value of 50.1, forecast 50.6).
The euro exchange rate against the dollar today, EUR / USD Forecast 01/12/2015
Players forex trading today in Asia should pay attention to the data output of the production sector PMI for China. The value of 48.9% and more able to support the single European currency, as this level would signal a decrease in pessimism in the industry in China. Otherwise, in the EUR / USD pair is expected predominance of sales. This indicator is among the leading in this regard, it is necessary to trade upon release of the data. The current trend in the Chinese industry is now negative and very few factors that could change this trend.Announced on business activity in the industry today and will publish the United States. The decline in the oil industry due to low oil prices, combined with the appreciation of the US currency today do not allow to rely on the data output better consensus. Published last week, the manufacturing sector PMI index from Markit, although it is not a model for the United States, but still fell to its lowest level in two years, which also confirms the negative trend. Against this background, at the auction in the US should not expect short-term growth of the EUR / USD. On the debt market in the last two days no significant changes in yield spreads on government bonds USA / Germany and Germany / UK, which indicates the development of the side trend for Eurocurrency.
Recommendations for the euro / dollar: Today traders in the euro against the dollar the US should not expect sideways trading range 1.0540 -1.0640.
Euro / dollar levels for today: Today, are the following levels: support levels 1.0520 - 1.0462 and resistance levels: 1.0592 -1.0617.
Pound dollar today GBP / USD Forecast 01/12/2015
Traders on the pound against the American in the first half of the session is waiting for continuation of reduction of quotations of the British. The data released by the Markit PMI for the manufacturing sector of the United Kingdom will not be able to please investors strong data on the background of the negative balance of industrial orders, which at Albion observed for seven months in a row. For the first two months of the fourth quarter pound strengthened by 4.6% against the euro (the currency of the main trading partner of the United Kingdom), which reduces the competitiveness of British goods in the Old World. In this context, we can expect growth of pessimistic sentiment among purchasing managers in the manufacturing sector. It is impossible to ignore the continuation of the bearish trend in the market of "black gold". On Monday, quotes Brent slipped by 0.5%, and if today the release PMI index for the manufacturing sector of China once again disappoint investors during the day, you can expect significant short positions on oil contracts that traditionally has supported the greenback.
Recommendations for the pair GBP / USD: Today, the foreign exchange market traders should sell the pair GBPUSD Sell on growth course in the area of 1.5065 / 1.5095 and a target at 1.4995.
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 01/12/2015
Against the background of positive dynamics of the debt market traders on the dollar against the yen in the first half of the session is waiting for the predominance of bullish sentiment. The last two trading days, the yield differential of Japanese and US government bonds widened, increasing the attractiveness of investing in the assets of States and support the demand for the US currency. Although expect a strong increase quotations today, it is not necessary, and this for two reasons.
First, the dollar index (USDX) is now in the region of maximum values of the current year, taking into account the fact that the second half of the week is scheduled publication of a block of important macroeconomic statistics, market participants will refrain from active trading, taking a wait and see position.
Secondly, as already noted, at auction in the United States is waiting for the release of data on the ISM index of the manufacturing sector is worse median forecasts that keep buyers from further attack.
Recommendations for the dollar yen pair: Today, traders should buy the dollar yen pair USDJPY Buy on reducing the price to 122.95 / 122.65 and closed at 123.33 transaction.
Dollar Yen levels for today: support levels: 123.00 - 122.61 and resistance levels: 123.60 - 124.12.