Forex. Weather forecast on September 6, 2016
The main forex events for today:
- 17:00 MSK. US: ISM composite index for the production sphere in August (the previous value of 55.5, forecast 55.4).
Forex. The forecast of the euro dollar pair EUR / USD today on September 6, 2016
For investors in the euro in tandem with the greenback, the main event today report for August on business activity in the US service sector. On the non-production sector accounts for 65% of US GDP, and in this regard, ISM data cause an increased interest of traders. What data will come out to support the American quotes?
The probability of such an outcome is rather small for two reasons.
First , last week went extremely negative data on ISM business activity for the manufacturing sector: the indicator fell below 50%, which indicates a decline. The final figure of 49.4% was the lowest level in five months. It is worth noting that the indicators ISM Manufacturing and ISM Non-Manufacturing have a close direct correlation, and now should not expect decline in business activity in the services sector.
Second , Friday's data on US labor market for August, released last week, are to be given indirectly to the output of weak data: employment growth in the services sector slowed. On the eve of the credit markets are not traded US securities, as a national holiday celebrated in the United States. Against this background, we have received only the differential yields of German and British 10-year government bonds, which showed the growth rate at 0.03%, it is moderately positive for the euro.
Euro Dollar recommendations : Investors in the euro dollar today worth buying a pair of EUR / USD Buy on the reduction of quotations to 1.1145 / 1.1115 and take profit at the level of 1.1200.
Forex rate forecast pair pound dollar GBP / USD today 09/06/2016
Bidding on the dollar pound pair two main factors determine today:
First, possible volatile dynamics of business activity indicators in the field of services and the Kingdom Aeriki support sterling exchange rate. Yesterday came Markit data on the growth of non-manufacturing PMI for Albion at 52.9%, against 47.4% a month earlier. As noted above, ISM index for the services sector today probably will be worse than expected median, which will contribute to reduce the spread of British and American figures to its lowest level since January this year. Investors traditionally positive about this trend and is usually in the short term there is the growth of quotations GBPUSD.
Second, the stabilization of prices on the market of black gold is another positive for the British. On Monday, the Minister of Energy and Saudi Arabia signed a cooperation agreement, it is the opinion of A. Novak historic event. Both sides have expressed a desire to develop a set of measures to maintain the current level of quotations on. Although the Saudi energy minister said that currently there is no need to limit production growth. It was also noted that the oil market situation is improving day by day. Thus, this is a positive signal for the short term. But, since there is no need to freeze the oil and if we take into account that oil shale mining companies in the US will increase the volume (such statements were made in August), the quotations of oil in the near future will go down again.
Pound Dollar advice for investors : Today at the auctions for the pound to the dollar forex players worth buying a couple
Forex forecast pair USD JPY USD / JPY today on September 6, 2016
At present, formed a mixed background. On the one hand, the output of weak macroeconomic data from the United States will cause a reduction in the yield differential of 10-year US Treasury bonds, and Japan, which will reduce the attractiveness of investments in US dollar assets and deprive strong support. On the other hand, saw an increase in "risk appetite" on Monday at the leading stock exchanges, which traditionally has a positive impact on the quotes couples as increasing the volume of carry trade operations through the Japanese currency. Demonstrated positive dynamics on the eve of funds investing in Emerging Markets Markets, which is a good leading indicator of demand for risky assets. In the US on the eve of the equity markets were closed on the occasion of the state holiday, and if investors today on the NYSE will support the positive trend of its foreign counterparts, the pair may reach new highs.
Dollar Yen advice for investors : This trailer for the USD / JPY pair is worth waiting lateral trade in the range of 102.80 -104.10.
Analyst « FreshForex »