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Main » 2016 » May » 10 » Forex forecast for today 05/11/2016: Traders sell EUR / USD, buy GBP / USD
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Forex forecast for today 05/11/2016: Traders sell EUR / USD, buy GBP / USD

 

Forecast May 11, 2016, EUR / USD

News forex traders today:

11:30 MSK. UK: Industrial Production for March (the previous value of -0.5% y / y; the forecast -0.4% y / y).

17:30 MSK. US data on crude oil inventories from the Department of Energy in May (the previous value 2,784M; 0,500M forecast).

 

Forex. Forecast rate evro.dollar EUR / USD today 05/11/2016

From the growth of the euro is beginning to suffer the industrial sector of the Eurozone: yesterday's weak reports on industrial production for March in France and Germany have disappointed investors.

 

 

It should be noted that the figure in France demonstrated negative dynamics of the last two quarters. In Germany, things are going better: the volume of industrial production increased by 0.26% in the first quarter, while net exports increased by 2.2% y / y. Although, if you look at the rate of net exports over the past year, the picture is not as rosy: in the first quarter trade surplus increased by 17% y / y. Probably, in the course of this year a further deterioration will occur, which will adversely affect the economic growth of the currency bloc.The yield on German 10-year government bonds in Germany in the credit markets reduced to the English and American, it reduces the attractiveness of investments in the assets of the Old World. 


Forex Trading recommendations on EUR / USD : Today, the players on the euro in tandem with the greenback at the auction is to sell a couple Sell on price increases to the levels of 1.1390 ​​/ 1.1430 and 1.1350 on the close of the transaction.

 

Forex trading recommendations on EUR / USD


Forex. Prediction of the pound against the dollar GBP / USD today 05/11/2016


Investors in the first half of trading the forex market is waiting for the growth of the pound the dollar against a background of positive dynamics of the debt market. The yield on British 10-year government bonds of the second trading day, rising to US and German, it increases the attractiveness of investments in the assets of Albion. The report on industrial production in the UK in March, probably will be released within the consensus: during the first quarter of the PMI index in the manufacturing sector showed a negative trend, which indicates a decrease in output. This factor is not allowed the British to show strong growth. In the second half of the trading dynamics of quotations of sterling currency market will determine the US Department of Energy data on crude oil inventories. Oil and GBP / USD pair is historically closely correlated, and in this regard, this report will be the driver to change the prices. To continue the growth in Britain's paired with an American is necessary to reduce stocks of crude oil and gasoline. The chances of such an outcome are sufficiently large, taking into account the dynamics of a sustainable reduction in the number of drilling rigs operating in the US, but it is better not to hurry up and wait for official data. 


Forex Trading recommendations for GBP / USD : Today, traders funu paired with American, bidding is to buy a pair Buy's price drop to 1.4415 / 1.4380 and a target at 1.4470 on the mark.

 

Forex Trading recommendations for GBP / USD

 

Forex. The forecast of the dollar against the yen USD / JPY today 05/11/2016


On the positive investor sentiment affects growth "risk appetite". In global stock markets the last three trading days of optimism there, it puts pressure on the yen as a funding currency in the carry trade №1 operations.Now, against the backdrop of the lack of publication of important macroeconomic statistics, the main driver of growth rates, this demand for riskier assets. Today, in the first half of the session is waiting for the continuation of the upward trend, but trading in the United States should not exclude a partial profit taking. On a technical correction indicates the differential in yield of US and Japanese government bonds, which decreases for two consecutive days. 


Forex Trading recommendations for USD / JPY The : Today the foreign exchange market players on the dollar with the yen should not expect sideways trading in the range of 108.70 -109.70.

Forex Trading recommendations for USD / JPY

Aleksandr Goryachev

Analyst « FreshForex »

 

 

 

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