Exchange Rates Forex Forecast September 29, 2015 EUR / USD
On the foreign exchange market on Monday, "green" has come under pressure - USDX dollar index closed the day at 96.11. The euro against the dollar The EUR / USD aversion of investors from "risky assets" per day added 0.36%. The course of sterling against the dollar the GBP / USD background fixing traders profit on short positions in the flat was 1.5156 -1.5240. Dollar Yen USD / JPY to a decline in the yield differential of US and Japanese government bonds and sales on stock exchanges closed with losses of 0.50%.
The main events of the forex market (Forex) today, to be addressed:
15.00 MSK. Germany: Preliminary CPI for September (the previous value of 0.2% y / y; the forecast of 0.1% y / y).
17.00 MSK. US: Consumer Confidence for September (the previous value of 101.5, forecast 96.2).
The euro dollar EUR / USD forecast for today 09/29/2015
Today in the forex in the first half of trading, the traders on the euro dollar pair is worth waiting lateral trade.On the one hand, reducing the "risk appetite" of investors to support the single currency as a funding currency.Yesterday, market participants closed transactions carry trade - at the leading stock market is experiencing a wave of sales of shares and high-yield cross-rates. Closing the carry trade operations positive for the euro currency. On the other hand, the debt market is no signal growth. The yield on German government bonds decreased in relation to their British and American counterparts. In the second half of the trading market participants should pay attention to statistics from Germany and the US. German CPI may reach the level of consensus forecast: growth of average earnings increases of personal consumption, but low oil prices restrained inflationary pressures. At the end of August the price of gasoline in Germany decreased by 4.3%, which is negative for the consumer price index. A measure of consumer confidence from the Conference Board may be a pleasant surprise. The decline in the unemployment rate up to August by 0.2%, and the growth of average earnings yield indicates positive data. Against this backdrop, traders and investors will rush to build up long positions in greenbacks.
Forex recommendations for the euro dollar (EURUSD): Today, traders bid the euro in tandem with open sale Sell greenbacks during the growth of the Euro dollar to 1.1250 / 1.1295 and 1.1180 on the objectives.
Levels euro dollar today: support levels 1.1216 - 1.1155 and resistance levels: 1.12699-1.1303.
Pound Dollar GBP / USD forecast for today 09/29/2015
In today Forex pair Pound Dollar macroeconomic background remains the same - growth trend greenbacks fairly stable and is gaining momentum. Yesterday, in his statement, the president of the Federal Reserve Bank of New York William Dudley said that the current strong macroeconomic releases approximate time of rising interest rates. According to a prominent member of the Fed FOMC rate hike is possible at any meeting, including the October. It was also noted that the US Federal Reserve is close to achieving the target level of core inflation of 2%. Another positive factor for the greenback comes from the commodity market: sales of commodities have a positive impact on the dollar, as the cost of raw materials denominated in US currency. On the eve of the CRB Commodity Index has lost more than 1%. The largest decline were contracts for oil and industrial metals.Slowing economic growth in China does not pass in vain for market Commodity.
Forex recommendations on the pair Pound Dollar (GBPUSD): Today during trading forex traders pound dollar pair is to open sales Sell the growth rate sterling to 1.5230 / 1.5270 and 1.5170 at Target.
The levels for the pair GBP / USD: Support levels: 1.5169 - 1.5101 and resistance levels: 1.5206- 1.5271.
Dollar Yen USD / JPY forecast for today 09/29/2015
To pair the dollar, the yen today, the fundamental backdrop gets mixed. It is necessary to identify factors that have a positive impact on the Japanese yen, and the "green". Take the Japanese currency. Reducing the demand for "risky assets" will support the yen as a funding currency. This is also indicated by the dynamics of the debt market: the yield differential of US and Japanese government bonds is reduced, which increases the attractiveness of investing in the assets of the rising sun. What factors support the US dollar, they include a positive attitude leaders FOMC. In the last 7 days, three representatives of the Federal Reserve (Dudley George and Lockhart) indicated that the FED is ready to increase interest rates before the end of this year. As already noted, the positive dynamics of the labor market makes it possible today to count the output data on consumer confidence from the Conference Board better consensus.
Forex recommendations for the pair dollar yen (USDJPY): Today, the pair Dollar Yen traders should not expect sideways trading within the range of 119.30-120.50.
Support and resistance levels Dollar Yen: support levels: 119.29 - 118.98 and resistance levels: 120.09 - 120.36.