Forex. The forecast of the euro against the dollar (EUR / USD) as of today 02/12/2016
Positive sentiment against the euro after the "soft" speech Federal Reserve Board Chairman Janet Yellen, weaken the dollar, renewed growth in yesterday's trading the European single currency. The euro was on the rise more than 100 points, recorded a high of 1.1376.
Given that Thursday's economic calendar was empty frankly, driver movement of currencies on the market were various comments of Fed speeches the day before, and the expectations of its new speech in the US Senate Banking Committee.
New speech Ms. Yellen was identical to the previous one, except for the addition of the "uncertain" wage growth, which allowed investors to interpret this phrase as a signal that the FOMC slightly convinced will soon rise in inflation.
As a result, a negative attitude to the prospects of the dollar kept, allowing the "bulls" on the euro to reach new highs. At the end of the day the pair has corrected several previous rate increase and finished trading at a price level 1.1322.
Today, the euro dollar exchange rate forecast: expect a short-term pullback pair to the level of daylight reversal 1.1318 and possibly to 1.1330. Further forward rotation and the resumption of the pair of corrective depreciation of the single European currency to the following target levels: 1.1277, 1.1246, 1.1216, 1.12, and below, to the significant support level of 1.1150.
Forex. The outlook on the pound / dollar (GBP / USD) as of today
Inability of the currency pair GBP / USD has been in a week to break the key resistance level of 1.4565 in yesterday's trading provoked another decline of the British currency against the US dollar. From the Asian maximum rate of 1.4562 the pair tested on the pullback of the rising channel's lower border 1.4383. Here, the British pound has formed a correction to a previous reduction of 4 - 02/08/2016. Then he turned to the latest upward correction for this wave. The currency is still under pressure from a possible withdrawal of Great Britain from the EU structure, economic and political consequences of which will be very painful for the country.
The pound against the dollar outlook today: expect the resumption of lifting the British currency to the target levels of 1.4510, 1.4563 and higher to the key resistance level of 1.46.
Forex. The forecast for gold prices today 02/12/2016
The World Gold Council said yesterday that the global demand for gold in the 4 th quarter of 2015 rose by 4% year on year and amounted to almost 1118 tonnes, which was the highest level of the previous two years.
The sources of this growth were investment demand and central banks buying gold. The bank bought gold twentieth consecutive quarter. In general, the demand for gold in 2015 amounted to 4212 tons, which is only 14 tons less than the previous year.
The low level of prices has pushed up demand for gold coins, bullion and jewelry. The demand for them in the second half of the year 2015 reached the highest level in more than a decade.
The main and the largest consumer of gold among countries remains China (984.5 tons). It is followed by India (848.9 tons). Moreover, the World Gold Council believes that the outlook for gold demand in both countries in the current year is even more improved.
On this positive for the "bulls" the background of the price of gold in yesterday's auction easily broke the key level of $ 1200 per ounce and reached at its peak annual maximum $ 1262 per ounce.
Support prices, except for the above-mentioned factors, and also had a renewed inflow of gold deposits in the specialized exchange-traded funds. In the first eight trading days of February in the funds it received as much gold as for the whole of January this year. In addition, Fed Chairman Janet Yellen yesterday in his speech before the US Senate Banking Committee were pleased with the "bulls" by stating that the Fed may postpone further rate hike, if they continue to disturbances in the world financial markets.
Thus, the dollar remained under pressure as metal quotes rushed up, finished the day slightly adjusted to the level of $ 1246.38 per troy ounce.
As of this morning near term resistance for gold passes on the price level of $ 1250 per ounce. The breakdown of this resistance as you move up the metal will continue to rise to the following purposes - 1255 $, 1260 $ and 1263 $ per ounce.
Immediate support for gold is located at $ 1237 daily reversal. If it is passed, then it becomes possible to further decrease of metal price levels - $ 1232, $ 1226 and $ 1219 per troy ounce.
Gold today in the forecast: the anticipated completion of the current metal price rise in the level of $ 1250 per ounce, and then turn the value of gold on the reduction to the above target levels supports.
Forex. Forecast Silver today 02.12.2016
The cost of the March silver futures continued to duplicate at yesterday's auction the price dynamics of gold.Following the mood of the players and technical factors, metal tested on the rise a new 4-week high of $ 15.93 an ounce, rising from the previous day to 98 cents.
As of this morning near term resistance for silver passes on the price level of $ 15.90 per ounce.
If resumed the upward movement - and this resistance is broken, - the rise will continue to target levels of $ 16, $ 16.35 and $ 16.65 per ounce.
Immediate support for silver settled at $ 15.64 a reversal day per ounce. If quotes overcome it - will continue to decline in price levels of $ 15.41, $ 15.25 and $ 15.15 per ounce.
In our forecast on silver metal assuming the completion of the current rise in the price level of $ 15.80 per ounce. Further forward rotation and reduce the value of silver to the above targeted levels of support.
In Friday's economic calendar in the focus of the market will be the outcome of the meeting of finance ministers of member countries of the European Union and the United States January data changes in retail sales.
In addition, the significant interest of investors to attract German data VVPza growth 4th quarter, as well as similar data of the Eurozone as a whole.
Of no less interest will be published in the Eurozone industrial output data; Germany and Spain - January index of consumer and wholesale prices; Italy - GDP growth data for the 4th quarter of last year; Statistics in the US - the publication of the index of economic confidence of consumers, the assessment of current conditions and inflation expectations (for the year and 5 years) from the University of Michigan.
UK is to publish the December change in the volume of construction, and in the United States come January index of import and export prices, as well as changes in the amount of stocks in commercial warehouses.
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