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Main » 2019 » April » 17 » Forex traders to trade ideas with oday 04.17.2019: Euro in anticipation of the inflation data
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Forex traders to trade ideas with oday 04.17.2019: Euro in anticipation of the inflation data

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The European currency despite the sell-off in the course of the trading session on Tuesday, again claiming to consolidate above 1.13. On the eve of the EURUSD dropped 25 points on upbeat ZEW economic sentiment in Germany. The index of economic sentiment was 3.1, compared with a forecast of 0.9 against -3.6 in the previous month. At the same time, the index of the current economic environment ZEW institute in Germany turned out to be twice as bad as the last figure, 5.5 to 11.1.

 

 

AMarkets

 

 

It is worth noting that the weak economic situation has already become an integral feature of the overall economic situation in the EU. Recall that, according to recent reports, the euro zone is going through the worst period in the past 10 years. Such a background is exactly what the ECB's decision to hold off on tightening monetary policy, placing greater emphasis on the involvement of new instruments of monetary stimulus. Today at 12:00 Moscow time, there are data on consumer prices of the Eurozone. Traditionally advised to pay attention to core inflation, which excludes prices of such volatile components such as food and energy. In the case of reducing core inflation below 0.8%, the ECB will be in the hands of all inputs to implement a tiered deposit rate system, as well as to increase the limits of the planned operations of the target long-term financing of the banking system (TLTRO). For the euro, this means only one thing - the potential reduction below 1.12.


SellLimit the TP 1.1350 #EURUSD 1.1190 SL 1.1380


Brent crude during the trading session on Tuesday again turned to growth, reaching a local maximum at the level of $ 71.92 per barrel. In the Asian session, the initiative rests with the buyers of the environment, although quotes retreated to $ 71.50. Support prices has a general demand for risky assets, which is clearly seen in the ascending dynamics of the global stock markets. This optimism is due to expectations of resolution of trade conflicts between the US and China, as well as enabling the policy pursued by key regulators of the world. Within days of growth factor in oil prices could be a data research institute ZEW, indicated an increase in April, expectations about the prospects for the German economy. This was one of the positive factors for the economy of the euro area after a series of weak economic reports published in recent weeks. Despite the persistence of "bullish" sentiment, we advise not to overestimate the chances of Brent crude oil on it to keep the current altitude. At any time, a significant trigger for the sales may be growth of oil production in the United States, which more than compensates for the efforts of OPEC + to reduce its own oil production. So far, the countries have agreed to curb output to the end of June, however, few people believe that the agreement will be extended until the end of 2019. Today at 17:30 GMT there are data on US oil inventories change. In the case of the establishment of another record daily oil production, the leaders may again be sellers. which more than compensates for the efforts of OPEC + to reduce its own oil production. So far, the countries have agreed to curb output to the end of June, however, few people believe that the agreement will be extended until the end of 2019. Today at 17:30 GMT there are data on US oil inventories change. In the case of the establishment of another record daily oil production, the leaders may again be sellers. which more than compensates for the efforts of OPEC + to reduce its own oil production. So far, the countries have agreed to curb output to the end of June, however, few people believe that the agreement will be extended until the end of 2019. Today at 17:30 GMT there are data on US oil inventories change. In the case of the establishment of another record daily oil production, the leaders may again be sellers.


#UKOIL SellStop TP 70.90 S 68.10 71.30


Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Author trader analyst Artem Deev company AMarkets.

 

 

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