Main » 2020 » March » 5 » Forex forecast and recommendations today 05.03.2020: EUR / USD - the sale, GBP / USD - range trading, USD / JPY
Forex forecast and recommendations today 05.03.2020: EUR / USD - the sale, GBP / USD - range trading, USD / JPY
Forex forecast EURUSD euro against the dollar today 05.03.2020
Today is not expected important macroeconomic statistics, and the bidding will be determined by the dynamics of debt and commodity markets. In the debt market, the yield spread of 10-letnizh government bonds in Germany / US shows moderate decline, indicating that the correction in the euro. The single European currency rose by 436 points and overdue technical correction. In the commodity market is experiencing a decline in interest in gold as a defensive asset. This week, just three of the Central Bank of the G-20 countries have reduced interest rates: the US Federal Reserve and Bank of Canada 0.5%, while Bank of Australia 0.25%. Soft monetary policy contributes to the inflow of capital in the equity markets and capital outflows from precious metals. For the euro is also a negative signal because the market there yl correlation between the euro and gold.
EURUSD recommendation: Sell 1.1145 / 1.1160, and take profit 1.1115.
Forecast GBPUSD pair today 05/03/2020
Today for the pair GBPUSD formed a mixed background. On the one hand, possible growth rate of sterling, as the debt market is growing yield spread on 10-year UK / US government bonds. Despite the decline in the Fed rate at 0.5%, investors are waiting for a further reduction in March, at a meeting of the regulator. According to the exchange rate 18 CME March is reduced by 0.25%. To pound is positive. On the other hand, the United States is pleased investors good data on employment - ADP and ISM indicators showed an increase, indicating that the growth rate Non-Farm, which will be published tomorrow.
GBPUSD recommendation: flat 1.2850 -1.2900.
USDJPY Forex forecast for today 03/05/2020
Yesterday the USDJPY traded in the flat and now sideways trend may continue. On the one hand, we can expect growth of stock markets, as the Federal Reserve last two days provides US banks by $ 100 billion as part of short-term funding operations, which is the highest level in the past year. Fed increases the amount of money in the banking system. Given the fact that in the coming days, the volume of offerings on the part of US Treasury bonds will not exceed $ 100 billion, the bankers can take advantage of current market conditions, to speculate on the stock markets. This is a good signal for USDJPY, since the pair is closely correlated with the American S & P500 index. On the other hand, the yield spread of 10-year US / Japan government bonds is much year low