Currency market forecast for December 28, 2015, EUR / USD
News forex traders today:
UK - bank holiday.
02.50 MSK. Japan: Retail Sales for November (the previous value of 1.8% y / y, forecast -0.6% y / y).
02.50 MSK. Japan: Preliminary data on the volume of industrial production in November (the previous value of 1.4% m / m forecast -0.6% m / m).
The euro exchange rate against the dollar today, EUR / USD forecast for 12/28/2015
Today forex euro paired with bucks traders should wait for the predominance of "bullish" sentiment. Last week, investors have completely ignored the positive news flow on the US dollar, which indicates the presence of strong buyers in this currency pair. Since before the New Year is not expected important macroeconomic statistics from the US and the euro zone, the "bulls" will try to disperse the quotes up on less liquid markets. In this context, the most effective to build long positions on the short-term decline that may occur during the day.On Friday, December 25 when the Western world was celebrating Christmas and the foreign exchange market was closed, some stock markets (who worked on that day) showed a moderate growth of quotations, which indicates that the demand for "risky assets". Growth of "risk appetite" will put pressure on the euro as the currency of funding that would pave the way for a small decrease in quotations, which should be viewed as an excellent opportunity to open the "Long".
Recommendations for the euro dollar: Today, the players on the euro with the dollar worth buying a pair Buy on dips to 1.0930 / 1.0895, and take profits at the level of 1.1000.
The course of sterling to buck today GBP / USD forecast for 12/28/2015
Investors take profits on short positions against the background of a moderately positive background. At the end of last week the debt market yields of government bonds the UK by 3 bp increased in relation to their counterparts from the US and Germany, which increases the attractiveness of investment in British assets and thus will contribute to the demand for the pound. It is impossible to ignore the bullish sentiment on the "commodity market". The unexpected strong reduction of commercial crude oil inventories in the United States (5.87 million barrels). Possible to stabilize the situation on the market of "black gold". Baker Hughes also reported about the reduction in the number of drilling rigs operating in the United States by 3 units to the level of 538. Not the best way things are in the states of Arkansas and Utah, where they work one and three rigs. A year earlier, in these two states worked twelve and twenty-three drill respectively. Consequently, market participants started to shut down, "shorts" on the eve of the Christmas holidays, which allowed the CRB Commodity Index finished the week in the "green zone", which is traditionally a negative factor for the US currency.
Recommendations for the pair GBP / USD: traders pound against the US currency is worth buying a pair Buy's price fall to 1.4900 / 1.4865 and target at the level of 1.4990.
The dollar against the yen today USD / JPY on 12/28/2015
Forex traders in the first half of trading should pay attention to the publication of important macroeconomic statistics from Japan. Friday's report on household spending for November indicates a decrease in the volume of retail trade. The growth of the manufacturing sector PMI, together with the increase in orders for machinery and equipment can count on to yield data on industrial production better than the consensus forecast. Considering these factors, we can expect a moderate correction of the USD / JPY, which should be used to build short positions, as noted above, it is necessary to wait weakening greenbacks.
Recommendations for the dollar yen pair: Today should sell the dollar yen pair Sell on growth rate to 120.50 / 120.80 and objectives on at around 120.10.