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Main » 2018 » May » 4 » Forex forecast for today 05/04/2018: Non - Farm and dollar
Forex forecast for today 05/04/2018: Non - Farm and dollar


Events traders today:

15:30 MSK. USA: Change in the number of people employed in non-farm payrolls for April (the previous value of 103K; 185K forecast).

15:30 MSK. US: Changes in average hourly wages for April (the previous value of 2.7% y / y, forecast 2.7% y / y).

The euro dollar forecast EUR / USD pair today 04/05/2018

Today, Forex traders will be waiting for the release of data on the labor market in the US in April. The employment index in industry and services from ISM showed a decline, signaling the release of Non-Farm data within the median forecasts. Most of all, data for March will be revised to the upside, as it usually is, and the April index will be about 185 thousand. These statistics will not cause a noticeable growth of the dollar, as markets need strong data for the Fed to respond more quickly to raise interest rates . Players should pay attention to the gold, which has a strong correlation with the euro - the metal is in demand the last two days, which confirms the negative trend for the US currency. Given the fact that today is the last trading day of the week,

EUR / USD today recommendation: Buy 1,1983 / 1,1 960 and take profit 1.2040.





Pound to dollar forex forecast pair GBP / USD today 05/04/2018

Today traders GBP / USD are two reasons to buy sterling.

First, in Britain and America came volatile macroeconomic statistics on the index of business activity in the services sector. It is the services sector is the main economies of the two countries, so investors are closely watching for such statistics. British PMI index showed an increase, the United States on the other hand, recorded a decline. For the market it is a short-term signal to the growth of quotations.

Second, the UK currency support toyvrny rynokp where investors buy the Brent crude oil in the support level of 72.68. The oil market is living expectations that Trump May 12 will break the agreement on the Iranian "transaction" and States may impose new sanctions against the Islamic Republic. For oil quotations is a positive signal, because the instability in the Middle East could cause upward trend in the area of ​​the psychological level of 80.00.

GBP / USD today recommendation: Buy 1.3574 / 1.3550 , and take profit 1,3637.




USD / JPY forecast for today 05/04/2018

The pair USD / JPY traders waiting for a mixed background. On the one hand, the possible depreciation of the USD / JPY after the release of the employment report in the US non-farm sector, as leading indicators in the face of ISM indices point to the data output within the consensus forecast, it is not enough to continue the upward trend of the US dollar. Japanese yen and gold have strong correlation, and since the precious metal shows growth, then it also couples the signal to decrease quotations. On the other hand, today we can expect the demand for US stocks and growth of S & P500, which in turn can form an uptrend in the pair USD / JPY.


USD / JPY today recommended: flat 108,70-109,50.




Aleksandr Goryachev

Company analyst FreshForex


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