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Forex forecast and recommendations today 06.12.2019: EURUSD - NonFarm, GBPUSD - Pound Correlation and oil, USDJPY - Flete


Events traders today:

16:30 MSK. USA: Change in the number of people employed in non-agricultural sector.

16:30 MSK. US: Changes in average hourly wages.

The euro \ Dollar Forex EURUSD forecast for today 12/06/2019

The main event today the publication of the labor market release in the US. The employment rate of the ISM service sector indicates an improvement in labor market conditions, while there was a decline in the industry. The number of applications for unemployment benefits in November increased by 1.5 thousand. Pers., Which is a moderately negative signal. On a Non-Farm figure today may be calculated and how this event will affect the value of the euro? Most likely, today we will see the output data worse than expected median, but those so negatively, on Wednesday marked the ADP agency. Against this background, the EURUSD may show moderate growth.

EURUSD recommendation: Buy 1.1096 / 1.1075, and take profit 1.1125




Pound \ dollar forex rate forecast pair GBPUSD today 12/06/2019

The British pound can complete the week on a positive note for two reasons. First, labor market statistics in the United States may be a little disappointed investors moderately negative data on the Non-Farm. Reducing the employment rate will force the Fed to adjust its forecasts for the upcoming meeting to be held within five days. Secondly, the bullish rally in the oil market have a positive impact on the cost of the British currency, as the pound is correlated with oil BRENT.

GBPUSD recommendation: Buy 1.3147 / 1.3130, and take profit 1.3177



Dollar \ yen forex forecast pair USDJPY today 06/12/2019

At present, formed a mixed background. On the one hand, it is possible to expect reduction of quotations on the background exit moderately negative macroeconomic statistics from the US labor market, as trade conflicts between Washington and Beijing make US corporations these or curtail investment program aimed at expanding business. On the other hand, the inflow of capital into higher-yielding assets may cause an increase in quotes because the currency pair USDJPY is strongly correlated with the stock market and high-yielding currencies.


USDJPY recommendation: flat 108.40 -109.01



FreshForex analyst



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