Forex forecast on September 7, 2016
The main forex events for today:
11:30 MSK. UK: Industrial Production for July (the previous value of 1.6% y / y; the forecast of 1.9% y / y).
16.15 MSK. UK: Parliamentary hearings on the issues of inflation.
Forex. The forecast of the currency pair EUR USD EUR / USD today 07/09/2016
Forex players who spend investing in the euro at auction today is worth waiting for the continuation of the upward trend of the euro dollar.
After the release of the report on the ISM index for the services the US yield differential German and US 10-year government bonds began to show growth, this is a positive factor for the currency of the European Union. It is worth noting that the European PMI index for the euro zone service sector up to August for the first time surpassed the US figure this year. During such period, s, investors seek to reduce the proportion of greenbacks in their portfolios at least in the short term. As from Europe and the US vital statistics today is not expected, investors will build up long positions in the direction of 13 pieces.
Euro Dollar recommendations invectoram: Today, the euro in tandem with bucks forex players should buy the pair EUR / USD Buy on the reduction of quotations in the area 1.1235 / 1.1200 and take profit at the level of 1.1300.
Forex. The forecast of the currency pair Pound Dollar GBP / USD today 07/09/2016
for sterling investors three reasons to buy GBP / USD:
First, yesterday otchetpo business activity in the services sector of America weak figures disappointed the market participants. ISM index fell to the lowest level since February 2010. Spread PMI indices in England and America for the first time in the last year went into positive territory, it is traditionally a positive signal for the pound. It is worth noting that the key articles in the ISM report showed a decline compared to the previous month. If we add to this the fact that on 1 September, business activity has fallen below 50% in the manufacturing sector, we can say with certainty that the US Federal Reserve on September 21 will not raise interest rates. ISM Index is a leading indicator of GDP, and this negative trend indicates that economic growth will be sluggish. The fact that the FOMC will not change monetary policy in two weeks, a positive factor for British buyers.
Second , the credit market dynamics indicate an upward trend for the pound: the British yield on 10-year government bonds is increasing in relation to the German and American, which increases the attractiveness of investment in the UK assets.
Third , in the second half of trading by financial authorities of Albion, worth the wait moderately positive rhetoric on inflation prospects. The labor market shows an upward trend (growth of employment and average earnings), which traditionally contributes to the growth of consumer price index, and the sharp depreciation of the currency of Britain after the announcement of the results of the referendum on Britain's membership as part of ES also the inflation factor for the economy.
Pound Dollar advice for investors : Today pound against the American forex players should buy the pair GBP / USD Buy on the reduction of quotations to 1.3410 / 1.3370 and take profit at the level of 1.3480.
Forex forecast pair USD JPY USD / JPY today 09/07/2016
Investors on the dollar in tandem with the Japanese currency today waiting for a mixed background. The strong reduction in yield spreads of US and Japanese government bonds will contribute to reduce the attractiveness of investments in the greenback and a positive impact on the value of the yen. However, the US stock market, despite the weak statistics on the labor market and business activity in the manufacturing and services sectors, is not going to decrease, but rather investors are actively buying back drawdowns and move the index $ & P500 up gradually. It is worth noting that the Russian MICEX stock index yesterday again updated the historical maximum. This pattern indicates that the appetite for risk is still high, and this will put pressure on the Japanese yen as a funding currency.Since yesterday's trading the pair has shown a decline of 1.3%, the current levels are attractive customers for opening the Buy position, since the middle of the month the Bank of Japan may announce new stimulus measures, which traditionally contributes to the growth of quotations of USD / JPY.
Dollar Yen advice for investors : Today, the pair dollar yen traders wait Stoa trade in a sideways channel 101.60 -102.90
Analyst « FreshForex »