Foreign Exchange Market on March 3, 2016, EUR / USD
News forex traders today:
12:30 MSK. United Kingdom: PMI index for the services sector in February (the previous value of 55.6, forecast 55.1).
18.00 MSK. US: ISM composite index for the production sphere in February (the previous value of 53.5, forecast 53.2).
The euro exchange rate against the dollar EUR / USD forecast for today 03/03/2016
Traders on the euro in tandem with the American in the first half of trading on the stock exchange should expect to continue sideways. Differential yield of government the US and German bonds is reduced, it increases the attractiveness of investments in the assets of the Old World, and to support the demand for the euro.
Demand for risky assets retained in the financial markets, and it is negative for the euro as a funding currency.In the second half of the trading day the dynamics of the euro the dollar will determine the ISM data for the US service sector. The consensus forecast of economists, investment banks from Wall Street points to a slowdown in business activity growth in the fourth consecutive month. Index last month fell to its lowest level in two years, and if this trend continues - we are waiting for the growth of euro rate. In the service sector accounts for the lion's share of the US GDP and this indicator traders look closely. Despite the negative trend on the ISM Non-Manufacturing PMI, this indicator is among the leading indicators, and trading on the fact of publication of the report.
Business solutions on a pair of euro dollar today 03.03.2016:
Buy position if at 18.00 MSK. value ISM Non-Manufacturing 52.5 or less - take profit 40 n.
Sell position if at 18.00 MSK. value ISM Non-Manufacturing 54.5 and more - take profit 40 n.
Pound Dollar today GBP / USD Forecast 03/03/2016
Today will be released the third report on England Center for Macroeconomic Research Markit Economics.Market participants are disappointed the first two indicators of business activity in the manufacturing and construction industry weak data. If today the PMI for the services sector will better the consensus, the sterling growth continue. And there are a couple of reasons.
First , GDP grew by 0.65%, with an overall economic growth of 0.5% in the services sector in the fourth quarter of 2015.
Second , the positive dynamics of the labor market in the UK will increase optimism among purchasing managers in this sector. Today, data is likely to Markit Economics will go better than expected median, it will support the demand for the British. Debt market just do not leave without attention: the yield on 10-year British government bonds rising in relation to the German and the US, it increases the attractiveness of investments in the assets of Albion. Against this backdrop, today's trading players is to build long positions on pullbacks, and before leaving ISM report for the services the US (18.00 MSK.) Is close positions, as in the case of a positive report, we see profit-taking on the "Long" before the close of trading in London and back at the pound.
Forex trading recommendations for the pair pound dollar today 03.03.2016 : Players pound with bucks worth buying a pair Buy on price increases to the levels of 1.4020 / 1.3980 and a target at 1.4070.
The dollar against the yen today USD / JPY forecast for 3/3/2016
Players pair yen dollar today in forex trading is to open long positions for two, etc. Jicin.
First , yesterday APD report on employment in the private sector has justified the positive expectations - the final figure is 214 thousand the first positive sign for Friday's data on the Non-Farm.. Today will be released the second leading indicator - employment in the ISM services. Japan this week, weak data on personal consumption contrary upset market participants. On the debt market the differential expanded for the fourth consecutive day yield of the US and Japanese government bonds, it increases the attractiveness of investment in assets States, and support the demand for the American.
Second , on hand to buyers of the dollar also plays a demand for "risky assets", which is observed this week.Shares of Europe's banking sector trading yesterday looked better than the market: Societe Generale + 4.2%, Deutsche Bank + 5,14%, Banco Santander + 5.64%. These banks are experiencing some difficulties due to the presence of a large number of low-quality assets on the balance sheet, and if investors are actively increasing their long positions in these securities, so we are waiting for another day growth of quotations on the stock exchanges.
Forex trading recommendations for the dollar yen pair today 03/03/2016 : Trading in the dollar against the yen is worth buying a pair Buy on lowering prices to levels 113.20 / 112.80 and target at 114.10.
analyst « FreshForex »