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Main » 2016 » July » 4 » Forex forecast for today 05.07.2016: EURO, GBP, JPY - sale!
Forex forecast for today 05.07.2016: EURO, GBP, JPY - sale!



Weather forex July 5, 2016

News forex traders today:

11:30 MSK. United Kingdom: PMI index for the services sector in June (the previous value of 53.5, forecast 53.1).

21.30 MSK. US: FOMC member William Dudley will make a speech.


Forex. The forecast of the euro \ USD EUR / USD today 07/05/2016

In EUR / USD pair has not changed, and short-term growth of the euro to levels of 1.1189 should be used to build short positions.



European stock markets again starts a fever as investors sell stocks, considering the current levels are very high in Brexit conditions. The largest decline was the paper of the banking sector: the capitalization of Societe Generale decreased by 2,06%, Barclays at 2.46%, 3.63% of UniCredit on, an obvious outsider of the day was the Italian bank Banca Monte dei Paschi di Siena SpA, which quotes sank 13.99%. The Italian government said Monday that is not going to solve the problems of credit institutions at public expense. Problems in Italian banks (and not only them alone) and a lot of investors are in a hurry began to sell shares. In this regard, market participants will begin again to get rid of the euro, as will intensify concerns about the fate of the leading banks in the region. The crisis in the industry has traditionally affects negatively on the national currency. 


Euro \ dollar Recommendations: Players on the euro with the dollar today in currency trading is to sell a couple Sell on price increases to 1.1180 / 1.1220 and target at the level of 1.1080.


Forex. Forecast pound \ USD GBP / USD today 07/05/2016

Published on the eve of release of the PMI construction sector in June caught investors by surprise: the indicator fell to its lowest level since October 2009. Business activity has fallen to the level of the crisis of 2008-2009 Projections regarding the British economic outlook in general and in particular the pound though they were pessimistic in the last week, but as we see, are based not on an empty place. The first warning signal has been received. In my opinion, this is just the beginning. Then we will have an entire portion of weak macroeconomic statistics, the rate cut by the Bank of England, the increase in QE package and the decline of the pound to new multi-year lows. Today, in the first half of the day it will be published release of the PMI for the services sector.This figure in recent months demonstrates a moderately positive trend: the index is above 50%, however, business activity slows.Even if today, the PMI data will come out better than the consensus forecast, the growth of quotations on the short-term should increase short positions for the reasons described above. 

Pound \ recommendations Dollar Traders Forex pound with greenbacks today in the forex market is a couple Sell on rate rise to 1.3330 / 1.3400 and Target at the level of 1.3230.


Forex. The forecast of the dollar, the yen USD / JPY today 05/07/2016

"Risk appetite" again reduced, which plays into the hands of the bears. No important macroeconomic statistics published today will not be in this regard, the bidding will be determined by the dynamics of stock markets. As previously noted, over the European banking sector once again the dark clouds: the Italian Government refused to provide additional liquidity to banks, Deutsche Bank management does not know what to do with bad assets, etc. Very often the crises begin with the banking sector. In 2008, it was the American banks, now, 8 years later, apparently, it will be the European financial institutions. Whether it is a global crisis or business will be limited only to regional problems it is difficult to say right now. One thing is clear - Brexit, as well as the growing number of euro skeptics among French politicians, Italy, Portugal, Greece and other countries increases the uncertainty of investors in such times go into safe-haven assets: the Japanese yen and gold. 


Dollar \ yen recommendations: Today, dollar traders should sell the yen pair Sell the growth of quotations in the area of ​​102.70 / 103.25 and take profit at the level of 101.45.





Aleksandr Goryachev

Analyst « FreshForex »

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