Forex. Weather on 16 November 2016, EUR / USD
The main event today:
12.30 MSK. United Kingdom: Unemployment rate for September (the previous value of 4.9%, forecast 4.9%).
12:30 MSK. United Kingdom: Changes in the level of average earnings for September (the previous value of 2.3% 3m / y, forecast 2.3% 3m / y).
16.30 MSK. United States: Producer price index for October (the previous value of 0.3% m / m forecast 0.3% m / m).
18.30 MSK. US data on crude oil inventories from the Department of Energy (previous value 2,432M; 1,480M forecast).
Forex. The euro dollar EUR / USD forecast for today 11/16/2016
At yesterday's auction the dollar index slightly corrected after reaching the level of 100.00, and continued upward movement. Against this background, the conclusion is that now we have players waiting greenbacks maximum test 2015 (100.60).
This is the highest level for the last 13.5 years, and probably will not be able igoki first attempt to overcome this obstacle. Otherwise, the market of private traders waiting for the strong growth of the dollar to its competitors. News background favored the bears: Germany's GDP in the third quarter fell short of expectations, while retail sales in the US exceeded the expectations of market participants. Against this backdrop, the yield differential of 10-year sovereigns governmental US and German bonds widened to its highest level since March 11, 2015, which increases the attractiveness of investing in US assets.
EUR / USD recommendation: Sell 1,0755 / 1,0795 with the aim to take -profit 1.0688.
Forex Couple pound dollar forecast GBP / USD today 16/11/2016
In forex players pound, now two reasons to open Sell position.
The first reason , the credit markets the yield of British 10-year government bonds is reduced to the German and American, is traditionally a negative impact on the sterling exchange rate. On Tuesday, the pound dollar pair showed a modest correction, but a foothold above the 1.25 level it was not possible, despite the significant increase in oil prices. It is impossible to ignore the weak inflation data in the UK in October, which does not allow to count on a positive release on the labor market. America, yesterday pleased positive statistics traders and today we can see again a positive report on the producer price index. on the background growth of commodity assets, which increases production costs.
The second reason , the dollar index basket with confidence trading above 100.00, and taking into account the negative data on the API crude oil inventories, traders today can expect a decrease in quotations of oil, which will increase the pressure on the pound strelingov.
GBP / USD recommendation: Sell 1,2475 / 1,2525 with the aim of take profit 1,2370.
Forex. The dollar yen forecast USD / JPY today 16/11/2016
Since the beginning of trading the foreign exchange market this week, a pair of quotation growth dollar, the yen was more than 400 n. Iroki waiting waiting for the turn and actively sell the US currency, but in the end turn out to be among the losers. I have already mentioned the fact that the strong upward trend and "short" the dollar should not be in this currency pair. Tomorrow will release a key this week - inflation data in the US in October. Strong data forced investors finally believe that the Fed will raise its benchmark interest rate at the meeting on 14 December. Already FED rate futures indicates a 91% probability increase. In this regard, there is a logical question: Can we see the positive report? Yes, and this for two reasons?
One reason , on the eve of States reported about strong data on retail sales for September and October, which are traditionally put upward pressure on inflation.
Another reason , import prices in October rose to a 3-month high, is outpacing the growth of the consumer price signal. Therefore, investors this week will increase the "Long" and quotes will move up. Prior to the psychological level of 110.00 the pair to grow by less than 1%, and this level we'll see this week. Perhaps this line will be taken today, as the stock markets have been growing "appetite for risk", which traditionally has a positive impact on the pair USD / JPY.
USD / JPY recommendation: Buy 108,70 / 108,30 with a view to take profit 109,30.
Analytics company FreshForex