Weather forecast on forex 11/17/2016
The main events forex today:
12:30 MSK. United Kingdom: Change the volume of retail trade, taking into account the cost of fuel for October (the previous value of 0.0% m / m forecast 0.5% m / m).
16.30 MSK. US: Consumer Price Index for October (the previous value of 1.5% y / y; the forecast of 1.6% y / y).
16.30 MSK. US: The number of initial applications for unemployment benefits in October (the previous value of 254K; 257K forecast).
Forex. Currency pair EUR / USD EUR / USD forecast for today 17/11/2016
At yesterday's auction the index USDX reached the highest level in the last 13 years, as soon as the players probably waiting for a correction, it is positive for the euro quotations.
On the debt market the same signs of correction: the yield differential of the German and US 10-year government bonds in the evening rose 0.5 basis points for the first time in the last 5 trading days. The main event today is the inflation report for October in the United States. Given the moderate growth of the producer price index to the level of 0.8% y / y, today, do not expect CPI data release at a better median forecasts. The probability but traders will see the range of 1.5% -1.6%, and market participants will begin to take profits on long positions. But the first reaction will be positive, and the dollar will show up another market. Investors today are wondering this decline reversal? Probably not! This decrease correction and soon players waiting greenbacks growth again.
EUR / USD recommendation : Traders pair euro dollar in trading today waiting for trade in a sideways range 1.0650 -1.0750.
Forex. Currency pair GBP / USD forecast GBP / USD today 11/17/2016
Investors for the sterling in tandem with the US currency today in the first half of trading on the forex currency market, it is necessary to wait for moderate growth, against the backdrop of a positive report on retail sales in October at the Albion. Yesterday's labor market data indicate a possible increase in consumer spending, as there is growth in employment and average earnings. In the credit markets, the yield on 10-year British government bonds to US and German, which also support the British. As noted above, in the second half of the trading traders should wait for the release in the US inflation data within the median forecasts, that will not have a strong support to the American view of the excessively high for USDX quotations.
GBP / USD recommendation: the Buy 1.2430 / 1,2400 with the aim of take profit 1,2482.
Forex. Currency pair yen dollar forecast USD / JPY today 11/17/2016
Today, the dollar yen pair is formed by a mixed background. The differential in yield of US and Japanese 10-year government bonds is reduced, it is a signal of the correction in the pair. While the dollar is still to make a breakthrough and test the maximum (109.75), and then have to leave down. Perhaps traders should wait for correction by the dollar index, as the index traded in the psychological level of 100.00, and often at such times the dollar shows decline of 1% -2%. But while we should not rush to sell, as the USD / JPY pair at the top is also a strong psychological level of 110 yen to the dollar and possibly after testing this area will correction. Questions are now more questions than answers in this regard, today we wait for the flat.
USD / JPY recommendations : flat is in the range of 108.50 -110.00
Analytics company FreshForex