Exchange Rates Forex Forecast September 24, 2015 EUR / USD
In Forex trading yesterday, multidirectional trend. The euro dollar is the EUR / USD upside against the cross-rate EUR / GBP, and profit taking on short positions for trading gained 0.7%. Pound Dollar GBP / USD amid falling yields on 10-year British government bonds relative to their American counterparts closed trading with losses of 0.65%. Dollar Yen USD / JPY on the background of bearish sentiment in the US stock market, which supported demand for the yen as a funding currency, closed trading with a slight decrease of 0.05%.
Forex major events, to be brought to the attention of:
11.00 MSK. Germany: Business Climate Indicator of the IFO in September (the previous value of 108.3 outlook 107.8).
15.30 MSK. US: Change in orders for durable goods in August (the previous value of 2.0% m / m forecast -2.0% m / m).
15.30 MSK. US: The number of initial applications for unemployment benefits in September (the previous value of 264K; forecast 268K).
17.00 MSK. US housing sales in the primary market in August (the previous value of 507K; forecast 516K).
forex forecast the euro dollar The EUR / USD today 09/23/2015
Yesterday's data from Markit Economics PMI index for the manufacturing and non-production sphere indicates that the acceleration of economic growth in Europe in the third quarter can be expected. Blame the weak macroeconomic statistics from France - it is the second largest economy of the Old World is now a stumbling block. Today, forex trading in the first half of the day, there are data on the business climate in Germany from the institute IFO. Indicators from Markit Economics in September showed a modest slowdown in growth, and in this respect today probably wait for the data within the consensus. In the second half of the trading day traders should pay attention to statistics from the United States on orders for durable goods. After two consecutive months of positive dynamics today, we can expect that in August, the volume of orders decrease. But income growth, coupled with an increase in vehicle sales last month of summer, allow us to calculate the output data bit better consensus. On the debt market dynamics are now also against the euro buyers: the yield on 10-year German government bonds is reduced relative to the American and British counterparts, which reduces the attractiveness of investing in the assets of the euro area.
Forex. Trading recommendations for the euro dollar: Today traders euro together with the American is to open sales Sell the growth rate to 1.1235 / 1.1265 and 1.1150 on the objectives.
Levels euro dollar today: support levels 1.1155 - 1.1096 and resistance levels: 1.1216-1.1269.
Forex forecast for the pound dollar the GBP / USD today 09/23/2015
In forex trading this week, the sterling has a great chance to show a new low for the past four months. Today, trading will be determined by two factors: the dynamics of commodity and debt markets. Interest differentials American and British bonds is clearly not in favor of Britain. Investors in mortgage quotes fact that Albion acceleration of economic growth in the third quarter can be expected. The sharp decline in industrial orders clearly indicate that fact. Commodity market after yesterday's correction again today will show a downward trend.
Firstly, weak data on the PMI index of industrial sphere in China show a decline in demand for industrial metals and hydrocarbons. China is a key world importer of commodities and commodity quotes traditionally show a direct correlation with the productive sector of China.
Secondly, the data of crude oil in the US released yesterday also signaled a continuation of the negative dynamics. Despite the fact that oil reserves over the past week decreased by 1.92 mln. Barrels - for three consecutive weeks, an increase in gasoline stocks, which does not allow buyers to gain a foothold above the $ 50 / barrel for Brent. At yesterday's auction after reaching the field once again followed by a massive sell-off of oil contracts, indicating the presence of strong sellers in the market.
Forex. Recommendations for the pound dollar pair: Today during trading on the forex market, traders on the pound to the dollar is to open sales Sell the growth rate to 1.5320 / 1.5360 and 1.5240 on the objectives.
The levels for the pair GBP / USD: Support levels: 1.5206 - 1.5169 and resistance levels: 1.5271- 1.5315.
Forex forecast of the dollar, the yen USD / JPY today 09/23/2015
In Japan, after three days of the weekend banks begin its work in this regard, we should expect a slight uptick in volatility in trading in Asia. Stock markets in Europe and North America yesterday, there was an increase, but the dynamics of the market as a whole indicates that the short-term price growth is a correctional movement. In Germany, the leaders of growth were "defensive sector": Municipal and goods of daily consumption. Investors remain concerned about the economic slowdown in China, as well as the scandal around the corporation Volkswagen. Platforms Emerging Markets, which are very sensitive to changes in capital flows, on Wednesday were also under pressure, which indicates that on Thursday we can expect collapse carry trade operations and demand for the Japanese yen as a funding currency. This negative trend of the commodity market, in contrast, will provide support to the US currency, as the cost of raw materials denominated in dollars. As noted earlier, in the second half of the day should be expected to yield a moderately positive macroeconomic statistics from the US, which is also on hand for the dollar bulls. Thus, the fundamental backdrop to date are mixed.
Forex. Recommendations for the dollar yen pair: Today traders to the dollar yen pair is worth waiting for in a flat lateral trading within the range of 119.50 -120.50.
Support and resistance levels Dollar Yen: support levels: 120.09 - 119.29 and resistance levels: 120.36 - 120.73.