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Main » 2013 » December » 2 » Forex. Forecast scenario for December 2, 2013: Day release by PMI index
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Forex. Forecast scenario for December 2, 2013: Day release by PMI index

The last trading day of November majors held sideways. Many American currency market participants continued to celebrate Thanksgiving and trading took place in small bands. From the Eurozone releases were published on the CPI and unemployment. Both reports came out better than expected, which would allow the ECB to take a pause in monetary policy.


In the UK were published weak data on private lending sector. Against this negative background, quotes the British pound fell to 1.6313 marks. The fuse on this "bears" ended and we saw continued upward trend. The Japanese yen continued to weaken against the U.S. currency. On the last trading day of the week from Japan published data on the consumer price index. The release came in at 1.1%, as in the previous month. Reducing inflation is observed, which confirms the right direction of monetary policy the Bank of Japan.

Events that should pay attention today:

 Japan: BOJ Haruhiko Kuroda will make a speech.

 France: The PMI for the manufacturing for November, the final release (previous value of 47.8, 47.8 forecast).

 Germany: PMI index for the industrial sphere in November, the final release (previous value of 52.5, 52.5 forecast).

 Eurozone: PMI index for the industrial sphere in November, the final release (previous value of 51.5, 51.5 forecast).

 Kingdom: The PMI for the manufacturing in November (previous value of 56.0, 56.5 forecast).

 U.S. Fed chairman Ben Bernanke will deliver a speech.

 U.S. ISM manufacturing index for November (previous value of 56.4, 55.2 forecast).

 

EUR / USD: (EURUSD) forecast December 2

On the first trading day of the week from the Eurozone will be released final data on PMI index for the industrial sphere.It can be expected that the reports will be released in accordance with expectations. In U.S. trading session expected speech of the Fed Ben Bernanke and the publication of a report on the production index ISM. Any deviation from the median of forecasts can cause appreciable reaction of the market as the indicator most closely reflects the current state of the industrial sector. Today are the following levels. Support levels: 1.3580 1.3550, and resistance levels: 1.3617-1.3645.

 

Pound / Dollar (GBPUSD): 2 December forecast

In the UK, a report will be published by the PMI for the manufacturing in November. Recent strong data on industrial orders from CBI may add positive in the final release of PMI. In general, you can expect to output data in accordance with the expectations of market participants. From technical point of view, we can expect the upward trend, is located near a strong resistance at around 16445. Today are the following levels. Support levels: 1.6330 1.6255, and resistance levels: 1.6380-1.6445.

 

Dollar / yen (USDJPY): 2 December forecast

In Asian trading session would be the head of the Bank of Japan Haruhiko Kuroda. Any comments concerning the economy of Japan and its trading partners can add volatility pair dollar / yen. Positive report on ISM Manufacturing in the United States only adds optimism "bulls" and we can expect the upside pair USD / JPY. Today are the following levels. Support levels: 101.90 - 101.55 and resistance levels: 102.50 - 103.15.

 

Alexander Goryachev

Analyst «FreshForex»

 

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