Events to watch out for today:
15.30 Moscow time USA: The main index of spending on personal consumption in May.
Forkes EURUSD forecast today 06.26.2020
The European currency can please traders with the growth of quotes today. The day before, a series of interesting statements were made by the ECB. Firstly, he defended the purchase of assets before the German Constitutional Court, claiming that enough evidence had been gathered to confirm that the purchase of state. Bonding is the best way to revitalize the eurozone economy and support inflation. Secondly, the regulator announced the launch of a repo program for central banks outside the eurozone, which need a European currency. This program will be valid for twelve months. The ECB is ready to shoulder in difficult times and this is a good signal for the investment community. Since the opening of American trading, interesting statistics from the United States on personal consumption spending will be published. The main index of expenditures on personal consumption (Core PCE Price Index) is an inflationary indicator that the Fed takes into account in the process of making decisions on monetary policy. Investors expect a decrease in the indicator against the backdrop of the COVID-19 pandemic, which will negatively affect the value of the dollar.
EURUSD recommendation: Buy 1.1210 / 1.1189 and take profit 1.1262
Forex forecast GBPUSD today 06/26/2020
According to surveys, the owners of British retail stores doubt that the opening of outlets selling goods not essential will be enough to revive demand and stop the fall in sales in July. A press release from the British Confederation of Industrialists revealed that most retailers expect lower sales in the summer months. "Although retailers make every effort to ensure their safety and willingness to open doors for visitors, most retailers outside the food segment expect sales to be significantly lower than during the same period last year," the BKF press release said. . For the pound, this is a negative signal. “Bulls” return to the oil market and increase their long positions, which will support the British currency, due to the direct correlation of GBPUSD and BRENT.
GBPUSD recommendation: flat 1.2400 -1.2460
USDJPY forecast today 06/26/2020
Today, a mixed background is forming. On the one hand, we can expect the growth of gold quotes, which will positively affect the value of the Japanese yen. China is increasing its military presence on the Indian border in the Galvan Valley after clashes between border guards last week, which killed 20 Indian soldiers and injured more than 70. The growth of geopolitical tensions will positively affect the value of the yellow metal as a protective asset. On the other hand, I expect the uptrend to continue on the US stock market, which in turn may support the dollar. Today, the Federal Reserve will buy in the US Treasury bond market in the amount of $ 8.825 billion, which will be the maximum value this week. I note that during the period from Wednesday to Thursday, the Fed bought back bonds worth $ 2.975 billion. Today's volume will be almost three times more than in the last two trading days. The next significant volume of purchases will be on Monday, July 6, when the Fed will buy back assets worth $ 12.825 billion.
USDJPY recommendation: flat 106.75 -107.50