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Main » 2016 » January » 11 » Forex forecast for today 01/12/2016: Three reasons to sell the British!
Forex forecast for today 01/12/2016: Three reasons to sell the British!

Foreign Exchange Market on January 12, 2016, EUR / USD

News forex traders today:

02.50 MSK. Japan: Total current account balance for November (the previous value of ¥ 1458.4V outlook ¥ 895.0V).

12.30 MSK. UK: Industrial Production for November (previously its value 0.1% m / m forecast 0.0% m / m). 



The euro exchange rate against the dollar today, EUR / USD forecast for 01/12/2016

Today, euro traders are mixed news background. The growth of cross-rate EUR / GBP against the weakness of sterling customer support euro. Do not forget reduction "risk appetite" among investors. On the eve of trading on world stock markets closed in the "red zone". Once again, China was a major factor in China's stock market boomed by more than 4%. Against this background, it is worth waiting for the demand for the euro as a funding currency. However, the sale of oil will cause decline in government bond yields in Germany, and we will see the expansion of the yield differential of US and German bonds. This factor reduces the attractiveness of investing in the assets of the Old World, and will put pressure on the euro. 

Recommendations for the euro dollar today: forex traders in the euro paired with Americans today should not expect sideways trading between 1.0830 -1.0930.


Recommendations for the euro dollar today


Pound against the US dollar today GBP / USD forecast for 01/12/2016

Today the foreign exchange market player in the pound dollar pair is selling the British for three reasons. 

First: the report on industrial production in Britain will not please the positive data of market participants. The PMI index of industrial sphere by a decline in orders in November fell by 2.7 bp The revaluation of the British the euro reduces the competitiveness of production in the euro area of Albion. 

Second, at yesterday's auction market of "black gold" has fallen again, and as the value of commodities denominated in dollars for greenbacks is a positive factor. Brent Sellers are determined to test the psychological level of $ 30 / barrel.

And the third reason, pessimism in the debt market for assets in Britain: the yield on 10-year British government bonds is reduced in relation to European and American. 

Recommendations for the pound dollar pair today: Traders pound paired with greenbacks, today at auction is to sell a couple Sell on growth rate to levels 1.4565 / 1.4605 and a target at 1.4508.


Recommendations for the pound dollar pair today


The dollar against the yen today, the forecast for USD / JPY 12.01.2015

Today, dollar traders on the yen in the first half of trading in Asia is worth waiting for some growth on the background of the negative balance of payments data in Japan. In November, there was a decrease in capital inflows into Japanese securities, and import growth in the trade balance. Foreign exchange reserves of the Bank of Japan in the second month of the fourth quarter has lost 11.2 billion. Dollars, it is a negative factor. Although short-term price growth, forex players should be used to open short positions. Capital flight out of "risky assets" are still important in the world. In the US stock market yesterday at auction in the growth leader was "protective" communal sector, and in this regard, the conclusion that investors will continue to further liquidation of positions carry trade. This one is for the yen as a funding currency is a positive factor. 

Recommendations for the dollar yen pair today: Players dollar is the currency of Japan to sell yen dollar pair Sell on price increases to the levels of 117.80 / 118.20 and 117.15 at Target.


Recommendations for the dollar yen pair today


Alexander Goryachev

Analyst «FreshForex»



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