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Main » 2018 » March » 1 » Forex forecast for today 03/01/2018 Traders - to stand in line for the dollar
Forex forecast for today 03/01/2018 Traders - to stand in line for the dollar


March 1, 2018, EUR / USD

Events that should pay attention today:

12:30 MSK. United Kingdom: PMI index for the manufacturing for February (the previous value of 55.3, forecast 55.1).

18:00 MSK. US: ISM manufacturing index for February (the previous value of 59.1, forecast 59.0).

The euro dollar forecast EUR / USD at today 08/01/2018

EUR / USD - two reasons why traders Sell.

First, the debt market observed decline in the yield differential on 10-year German government bonds and the US, which will put pressure on the euro. Inflation in the euro area reduced the last three consecutive months, which may disappoint investors, who at the end of last year, believe in the imminent completion of the QE program by the ECB. With inflation at 1.2% of the ECB will continue to buy bonds, and this factor is negative for the euro. 

Second, in the US trading session, you can expect the release of positive US data on business activity in the manufacturing sector. Depreciation of the dollar is beneficial to exporters, and the launch of the tax reform will boost corporate earnings. 

EUR / USD recommendation: Sell 1,2205 / 1,2226 and take profit 1,2161.







Pound Dollar forecast GBP / USD today 01/03/2018

British traders should sell on a background of pessimism in the public debt market. The yield on 10-year British government bonds falls to his counterparts from the United States and Germany, it is a strong negative for the pound. As noted above, States in the second half of the day may please investors positive statistics on the index ISM Manufacturing PMI, which also will play into the hands of "bears". Investors are building up positions in the US currency in anticipation of the Fed rate hike on March 21. It is possible that work known exchange rules: buy on rumor - sell the fact. Against this background, after March 21, we can see a wave of sales of the US currency. 

GBP / USD recommendation: Sell 1,3778 / 1,3805 and take profit 1,3730.




Dollar yen forecast USD / JPY forecast for today 01/03/2018

USD / JPY - two reasons to buy.

First, the credit markets observed growth yield spread on 10-year United States and Japan, government bonds, which will provide support to the US currency.

Second, the positive statistics on the index ISM Manufacturing PMI will support the US stock market, which in turn have a positive impact on the pair USD / JPY, because of the strong correlation of the two instruments. Many of the media in the last month go on about "overheating" the US stock market, but the macroeconomic indicators at this point and not on the other hand, involve the growth of quotations by 10% in the medium term. VIX fear index falling the past two days, which also points to the interest of investors in the shares. 


USD / JPY recommendation: Buy 106,63 / 106,36 and take profit 107,21.




Aleksandr Goryachev

Company analyst FreshForex




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