Foreign Exchange Market on March 7, 2016, EUR / USD
Forex news traders today:
It is not expected of important macroeconomic statistics.
The forecast of the euro against the dollar EUR / USD today 03/07/2016
Friday's labor market data in the United States is uneven. On the one hand, private sector employment increased by 242 thousand., Exceeding the expectations of traders. But, if you look at the two-slice and compare the data with the previous year, we see a reduction in the employment growth rate 14.81%. Disappointing and average earnings index, which declined by 0.1%.
A weak report on the US trade balance for January also not be discounted - a negative balance amounted to 45.6 billion dollars, which is 4.53% more than the year before.. Against this background, the conclusion is that the US Federal Reserve on March 16 will not tighten monetary policy. The rise in the US stock market also confirms this scenario - the S & P 500 on Friday closed steady growth. Traders do not believe in a rate hike by the FOMC and increase long positions. Today important macroeconomic statistics is expected, and the dynamics of the euro the dollar will determine the situation in the debt and equity markets. In the credit markets, the yield on 10-year German government bonds is reduced in relation to the US, it reduces the attractiveness of investments in the assets of the Old World. On the stock markets the rise of bullish sentiment that the euro as a funding currency negative factor.
Forex trading recommendations for the euro dollar pair on 03/07/2016 Traders for trading is to sell a couple Sell on price increases to the levels of 1.1050 / 1.1085 and a target at 1.1000.
The pound to dollar forecast GBP / USD today 03/07/2016
Despite the strong rise in oil prices on Friday (Brent grade on the day added to 5%), the growth rate of sterling on the last trading day of the week has slowed down, it signals that investors are beginning to gradually take profits on long positions. The debt market also indicates a possible correction in the pair GBP / USD: on the basis of the last trading week, the yield spread of 10-year-old British and American government bonds widened by 5.1 basis points, with the Briton to the dollar has appreciated by 2.66%. It is impossible to ignore the dynamics of business activity in the services sector: PMI differential with respect to the results of February has shifted in favor of America, it also deprives the bulls pound trumps. A month earlier, on the other hand, the differential performance was in favor of the United Kingdom. The scope of services in this case, is not chosen by chance - this sector is the basis of the GDP of both economies.
Forex trading recommendations for the pair pound dollar today 03.07.2016 : Players on the pound dollar pair is worth to sell Sell on British growth rate to levels 1.4250 / 1.4285 and take profit at 1.4195.
The forecast of the dollar against the yen today USD / JPY 07.03.3016
The dynamics of trading on the pair Dollar Yen today in forex will determine the attitude of investors to the "risky assets". Last week the "appetite for risk" was high: there was an increase both in the stock markets, commodity market, and the high-yielding currency crosses. The tone in the global equity markets asked two sectors: energy and finance. As mentioned : the oil market should not expect the predominance of bullish sentiment, it will contribute to the continued growth of the energy sector securities. In the financial sector, investors last week bought not only the action of stable banks such as Goldman Sachs and JPMorgan Chase, but also built up long positions in securities of troubled European financial institutions Deutsche Bank AG and Credit Agricole SA. This trend points to the desire of investors to take risks, it will have a negative impact on the Japanese yen as a funding currency in the carry trade №1 operations.
Forex trading recommendations for the dollar yen pair today 03/07/2016 : Trading in the dollar against the yen today for trading on the foreign exchange market is to buy a pair of USDJPY Buy on decline of quotations to the levels of 113.45 / 113.05 and 113.95 at Target.
Analyst « FreshForex »