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Main » 2015 » September » 16 » Forex forecast for today 09/17/2015: greenbacks support FOMC
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Forex forecast for today 09/17/2015: greenbacks support FOMC
 
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Exchange rates forecast for September 17, 2015 EUR / USD

Yesterday's trading forex euro dollar EUR / USD against the backdrop of rising oil prices rose 0.1%, after positive US data on crude oil stockpiles. Last week, stocks fell slightly more than 2 million. barrels, which supported the demand for "black gold". Pound Dollar GBP / USD after the release of positive data from the labor market in the UK rose by 1%. Forex traders were pleasantly surprised by the reduction in unemployment and an increase in wages for July. Dollar Yen USD / JPY on the background of bullish sentiment in the Japanese and US stock markets gained 0.15%. 

 

Events of the market, which should pay attention today:

 

02.50 MSK. Japan: The total balance of foreign trade in August (previous value - ¥ 268.1B; outlook - no data).

11.30 MSK. United Kingdom: Change the volume of retail trade taking into account the cost of fuel in August (the previous value of 0.1% m / m forecast 0.2% m / m).

15.30 MSK. USA: The volume of building permits issued in August (the previous value of 1119K, 1135K outlook).

21.00 MSK. US: FOMC decision on the basic interest rate.

21.30 MSK. USA: Press conference FOMC.

 

The euro dollar EUR / USD forecast for today 09/17/2015

Today, traders will be the main event of the announcement of the two-day meeting of the US Federal Reserve monetary policy. Late in the evening FOMC make its verdict, and until that time, trading in the euro dollar EUR / USD will determine the dynamics of commodity and debt markets. It is worth noting that yesterday went revised data on inflation in the eurozone in August recorded the output index in negative territory since the beginning of this year. This factor for the euro currency is a negative, as the threat of deflation will again rise to rumors of a possible expansion of the QE program hundred ECB. On world markets dominated by buyers of shares yesterday, which is also a negative impact on the single currency as a funding currency. With regard to the outcome of the Fed meeting, there probably can be expected to increase the interest rate at 0.10% - 0.15%.Strong labor market data indicate that the controller is ready to tighten monetary policy, but izkie inflation rate does not allow to calculate to raise rates immediately by 0.25%. Vetoy connection, a small rise in interest rates will not hurt the US economy and creates room for maneuver on the part of the Fed. 

Forex. Trading recommendations for the pair EUROUSD: Today, traders on the euro with the dollar is to open sales Sell the growth of quotations to 1.1310 / 1.1350, and take profit at the level of 1.1210.

Levels euro dollar today: support levels 1.1269 - 1.1216 and resistance levels: 1.1303-1.1373.

Forex. Trading recommendations for the pair EUROUSD

 

Pound Dollar GBP / USD forecast for today 09/17/2015

This morning trading is probably worth waiting predominance "bullish" sentiment. Released yesterday, a report on the labor market in Britain indicates an increase in consumer spending. The unemployment rate in Albion in July dropped to the level of 5.5%, and all this occurred against the background of growth of average earnings based on awards. Against this backdrop, today probably expect to release positive data on sales in the retail sector, it seems short-term Sterling support. Why the short term? Here stands out for two reasons. Firstly, the market very rapidly celebrated the positive data from the UK labor market. The unemployment rate actually declining and reached its lowest level since April of this year, but the growth rate of employment in the UK and the US mixed. Differential both indicators are still in favor of the dollar and America index came close to the target level of the Federal Reserve (5%). Secondly, late today FOMC will announce the results of its two-day meeting on monetary policy, and as already mentioned - the controller can go on raising interest rates, that will support the growth of the dollar. 

Forex. Trading recommendations for the pair GBPUSD: Today at the auctions for the pound dollar pair, traders should wait for trade sideways 1.5400 -1.5540.

The levels for the pair GBP / USD: Support levels: 1.5466 - 1.5427 and resistance levels: 1.5497 - 1.5551.

trading advice

 

Dollar Yen USD / JPY forecast for today 09/17/2015

As the dollar yen pair is worth waiting for growth today for three reasons.

Firstly, in the first half of the session is waiting for upside in Asian and European stock markets.Yesterday, trading on the world's leading stock markets closed in the green, and against this background, today probably expect continuation of an upward trend. This factor will put pressure on the Japanese yen as a funding currency.

Second, the differential in yields of government bonds greatly expands the past two trading days, which increases the attractiveness of investment in US assets.

Third, as noted above, today is worth waiting for monetary tightening by the US Federal Reserve, which is a positive factor for the greenback. In addition to a number of positive macroeconomic releases, this event indicates, and the dynamics of the US stock market. At yesterday's auction the weakest growth of the major stock indexes showed Nasdaq, which signals the exit of investors from risky assets. Fed rate hike in the first place is a negative impact on the high-tech sector, which consists of paper with a very high coefficient of P / E.

Forex. Trading recommendations for USDJPY: Today, the dollar yen pair is worth buying to open Buy's depreciation of the dollar, the yen to 120.40 / 120.00 and purpose at the level of 121.21.

Support Levels of support and resistance Dollar Yen: support levels: 120.36 - 120.09 and resistance levels: 120.73 - 121.37.

Forex. Trading recommendations for USDJPY:
 

Alexander Goryachev 
analyst «FreshForex»

 

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