Currency market forecast for December 2, 2015, EUR / USD
News forex traders today:
12.30 MSK. United Kingdom: PMI index for the construction sector by the Markit in November (the previous value of 58.8, forecast 58.4).
13.00 MSK. Eurozone: Evaluation of the consumer price index for November (the previous value of 0.1% y / y; the forecast of 0.2% y / y).
16.15 MSK. US: Change in the number of employees from ADP for November (the previous value of 182K; forecast 191K).
18.30 MSK. US data on stocks of crude oil from the Department of Energy.
The euro exchange rate against the dollar today, EUR / USD forecast for 02/12/2015
Three days in a row, the euro / dollar is sandwiched in a narrow Fleta 1.0557 -1.0637. Players forex market took a wait before the meeting of the Central Bank on December 4. Eurostat published the day before the release of positive employment - the unemployment rate in October fell to the level of 10.7%. The lowest unemployment rate was registered in Germany (4.5%), and the highest in Greece (24.6%) and Spain (21.6%). Soft monetary policy of the ECB is bearing fruit: since the beginning of the year, unemployment decreased by 0.7%, while real GDP grew in the first nine months to 1.79%. On the second indicator, the euro zone behind the US, which grew by 2.53%. On the debt market on Tuesday, the yield on 10-year German government bonds rose against the American and British would support the euro in the early hours of the London trading session. Although the strong appreciation of the euro against the dollar EUR / USD today should not wait. No one wants to take on additional risks as to the end, it is not clear whether the ECB will go to increase the stimulus package. Thus, today we can expect the final day of the lateral trend and already on Thursday afternoon, replaced sluggish trade surge in volatility.
Recommendations for the euro / dollar: Today, traders should wait again sideways trading between 1.0570 -1.0675.
Euro / dollar levels for today: support levels 1.0617 - 1.0592 and resistance levels: 1.0673 -1.0712.
The pound against the dollar today GBP / USD forecast for 02/12/2015
The pair Pound Dollar technical correction came to a close, traders should build short positions. PMI manufacturing sector as expected came out worse than the consensus forecast due to lower product competitiveness Albion. From October 1 to November 30, the pound, the euro EUR / GBP fell to 5%, and the conclusion is that in the fourth quarter of this year in the industrial sector growth of England should not wait. Market participants understand that, and counting on the weakening of the pound will be open short positions in the pair GBP / USD. Today, in trading in Europe, there are data of business activity in the construction sector, possibly within the consensus. On the one hand, rising incomes, increases the demand for real estate. On the other, not strong rise in mortgage interest rates, together with the growth in property prices will keep potential home buyers (for the first ten months of property in the UK rose by 8.4%). It is worth noting the decline of yield of British government bonds relative to US and German, which reduces the attractiveness of investing in the assets of England that will put pressure on the exchange rate of sterling. Do not leave without attention and the dynamics of oil prices. In the second half of the session will release US Department of Energy, where players are expected to point to a reduction of reserves of 1.1 million. Barrels. In November, the number of drilling rigs decreased by 31 units, and it is difficult to say whether we will see again an increase in stocks. Although, if the final figures show though reduction of commercial stocks, but do not make it to the forecast, it is likely once again the predominance of "bearish" sentiment that would support the dollar.
Recommendations for the pair GBP / USD: Today, forex traders should sell the pair GBP / USD Sell the growth rate sterling to 1.5099 / 1.5135 and 1.5035 on the objectives.
The levels for the pair GBP / USD: Support levels: 1.5052 - 1.5026 and resistance levels: 1.5101- 1.5169.
The dollar against the yen today USD / JPY forecast for 02/12/2015
Forex traders on the dollar against the yen in the first half of the session is waiting for the predominance of sellers. Yesterday's ISM data for the industrial sector disappointed players. PMI for the first time in the last three years has fallen below 50%, which indicates a growing pessimism of purchasing managers in the background of stagnant oil and gas sector and the revaluation of the dollar. The index of new orders also fell below 50%, only 5 out of 13 branches have reported an increase in orders. The indicator of employment, on the contrary, showed an increase of 3.7 p. And raised above the 50% level, which is positive for Friday's release of Non-Farm. In the automobile industry and the oil and gas sector continues to claim a reduction of staff. This report is the first wake-up call for the US economy, and for the dollar. Probably, in the medium term greenback will continue to rise against the background of the lack of strong competition, but in the second half of 2016 the US economy is likely to experience difficulties and investors reconsider their views. After the ISM report on the bond market has been a significant reduction in the yield differential of US and Japanese government bonds, it is a bearish factor for the dollar against the yen USD / JPY.
Recommendations for the dollar against the yen: Today traders in the first half in the first half of trading on the forex market is a couple Sell on growth rates in the area of 122.90 / 123.15 and take profit at 122.50.
Dollar Yen levels for today: support levels: 122.61 - 122.12 and resistance levels: 123.00 - 123.60.