Events traders today:
11:30 MSK. UK: Changing GDP per quarter 4Q (previous value of 1.4% g / g; forecast 1.4% g / g).
15.00 MSK. Germany: Harmonized consumer price index for March (the previous value of 1.2% y / y, forecast 1.6% y / y).
15:30 MSK. US: Basic cost index for personal consumption in February (the previous value of 1.5% y / y, forecast 1.6% y / y).
The euro dollar forecast EUR / USD pair today 29/03/2018
Two reasons today, traders on the euro in tandem with the American should expect an increase in EUR / USD:
During the day, we should expect growth of quotations of the single European currency for two reasons.
The first reason, the positive dynamics of the debt market, the yield on German 10-year bonds increased to US and British bonds.
The second reason, in the commodities market growth will put pressure on the greenback, as the raw material is quoted in US dollars. Report on inflation in Germany is likely to come at the level of the median forecasts, due to rising energy prices. This news is not strongly support the euro, as the market is "laid" a factor in their expectations.
EUR / USD recommendation: Buy 1,2315 / 1,2295 and take profit 1,2340.
Pound dollar forex forecast GBP / USD today 29/03/2018
Forex traders on the pair GBP / USD today worth waiting lateral trade. UK GDP data will be released probably at the level of the median forecasts, as this will be the third assessment, which usually coincides with the second estimate. This factor will have no impact on the course of trading on the sterling. Oil can support the pound, black gold is waiting for the continuation of the uptrend. In America there is a strong reduction in gasoline inventories, a signal of the high demand for petroleum products. On the other hand, the decrease in yield spread of British and American 10-year bonds may cause depreciation of the British.
GBP / USD recommendation: flat 1,4050-1,4140.
The exchange rate is the dollar, the yen forecast USD / JPY today 29/03/2018
Investors today will not open positions in large quantities, because do not want to take on additional risks. In general, for a pair of dollar \ yen formed a positive background and if not for the weekend due to the Catholic Easter, it was possible to open Buy position based on continued growth. Yesterday's data on US GDP pleased traders positives - the figure for Q4 was revised to the upside, which allowed to fix an annual growth rate of 2.27%, against 1.48% in 2016. This year, the Fed expects GDP growth of 2.7%. Thus, the observed acceleration of economic growth in the United States that will contribute to the growth of the stock market and have a positive impact on quotations pair USD / JPY. Against this background, players should expect growth of pair USD / JPY and the S & P500 index.
USD / JPY recommendation: Buy 106,50 / 106,30 and take profit 106,90.
Company analyst FreshForex