Foreign Exchange Market on March 15, 2016, EUR / USD
News forex traders today:
09.30 MSK. Japan: Press Conference of the Bank of Japan.
15.30 MSK. US: Retail Sales for February (previous value of -0.2% m / m; the forecast -0.1% m / m).
15.30 MSK. United States: Producer price index for February (the previous value of 0.1% m / m; the forecast -0.1% m / m).
The forecast of the euro against the dollar today EUR / USD 15.03.2016
March 10 euro to its strong growth stumped many traders. Was this strong demand, or an attempt to drive the market at high levels, to sell at attractive prices?
Soon traders will get an answer - in a meeting of the FOMC on Wednesday, which will determine the trend in the pair EUR / USD. Today forex players are three reasons for the sales of the euro the dollar:
First , the demand for "risk assets" would have a negative impact on the euro as a funding currency.
Second , at the auction in the United States should wait for a moderately positive report on retail sales in the US in February, it will support the demand for the dollar. In the US, consumer activity increases due to a strong labor market. The low unemployment rate of 4.9% and growth of the average wage by 0.5% m / m in January, the results can count on the preservation of the positive trend in sales in the retail sector.
Third , the political factor as well should not be left unattended. The party of Angela Merkel in Germany, the local elections seriously lost. The main reason for such a result, experts have called the discontent of the population migration policy. Getting the political turbulence in the leading euro-zone economy is playing into the hands of the sellers euros.
Forex recommendations on a pair euro dollar today 03.15.2016 : euro players paired with a pair of greenbacks worth selling Sell on price increases to the levels of 1.1130 / 1.1170 and targets at 1.1070.
Forecast exchange rate pound dollar today 15.03.2016 GBP / USD
Today, the British formed the mixed news background. Debt market generates a buy signal. The yield on British government bonds rising in relation to the German and the US, it increases the attractiveness of investments in the assets of Albion. Although the oil market traders taking profits on long positions after four weeks of rising prices, which plays into the hands of the sellers of sterling. It is worth noting that the positive expectations still remain on the oil market, and we are talking about a technical correction. As noted earlier, in the afternoon trading staff can please market participants report on retail sales better than the consensus forecast, it will positively affect the value of greenbacks. So as of today, mixed fundamental background does not allow to choose a single direction.
Forex recommendations to pair pound dollar today 03.15.2016 : Traders pound the American currency at the auction should not expect trade sideways 1.4260 -1.4370.
The dollar against the yen forecast for today USD / JPY 15.03.2016
Do not hesitate and buy the dollar against the yen Buy! The main factors point to the growth of quotations.Three reasons for traders to buy the pair Dollar Yen:
First , the yield differential of US and Japanese government bonds again reached the level of 200 bp, it is a negative factor for the Japanese yen.
Second , the Bank of Japan today announced the results of the meeting of the monetary policy, which should not expect short-term revision of the forecasts for inflation and economic growth in a negative direction.Reducing personal consumption and lower energy prices help to reduce inflation expectations. The strengthening of the Japanese yen in the period from January to March brings problems for exporters, because it reduces the competitiveness of products in foreign markets. "Dovish" Mr. Kuroda rhetoric embolden buyers to build long positions.
The third , "appetite for risk" still persists, it will put pressure on the Japanese yen as a funding currency.
Forex trading recommendations for the dollar yen pair today 03/15/2016 : Trading in the dollar against the yen is worth buying a pair Buy on decline to levels of 113.75 / 113.35 and take profit at the level of 114.20.
Analyst « FreshForex »