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Forex forecast and recommendations today 09.10.2019: EUR / USD - the flat, GBP / USD - for BREXIT talks deadlocked !, USD / JPY - Trump


Events today:

17:30 MSK. US data on crude oil inventories from the Department of Energy in September.

21.00 MSK. USA: Publication of minutes of the Fed in September.

Forex EURUSD forecast today 09/10/2019

Forex players in EURUSD today waiting for a positive and a negative. Positive for the euro: statistics from the US Producer Price Index disappointed investors weak data that indicates a need to reduce the Fed's interest rate. Index Producer Price Index decreased by 0.4 pp, to a level of 1.4% - the lowest since December 2016. Against this backdrop, the yield spread of 10-year German government bonds / USA showed growth, which is positive for the euro. Negative for the euro - the statement of the Bank of Spain Pablo Hernández de Cos that the ECB has not yet reached the limit of interest rate cuts. With high probability, the euro will now trade sideways 1.0920 -1.1000 until Friday, when they announced the results of trade negotiations, the US and China.


EURUSD recommendation: flat 1.0920 -1.1000





Forex forecast GBPUSD today 09/10/2019

German Chancellor Angela Merkel in a telephone conversation with British Prime Minister Boris Johnson announced the low probability of a deal with the EU on Brexit. British politicians claim that tired to negotiate with Brussels, since the EU is constantly not like the initiative of London. The political confrontation between the two centers was at a standstill and it is a negative signal for the British currency, as investors are always afraid of political risks and avoid investments in those assets where the risk is present.

GBPUSD recommendation: Sell 1.2220 / 1.2240, and take profit 1.2180




Forex forecast for USDJPY today 10/09/2019

The bidding is still dependent on the dynamics of stock markets, as the USDJPY is strongly correlated with the equity markets. The night before, a lot of noise caused a performance of J. Powell. The head of the Federal Reserve announced its readiness to increase the Central Bank's balance sheet by buying bonds. Powell made the reservation that it is not of QE, but simply a measure necessary for the improvement of the banking system. Ben Bernane, who was the author of three programs of buying bonds in the period from 2009 to 2014 for some reason, called the measure it QE. The only difference is that while the Fed bought up long-term bonds, and now intends to buy short-term bonds. It turns out we can expect QE-4, and judging from everything from 1 November. J. Trump still broke Federezev! Let me remind you that on November 1 QE of $ 20 billion. Euros a month starts the ECB. How this process affects the stock markets. In the past it has always been a growth in the stock market! Now there is a tendency to wait for a repeat.

USDJPY recommendation: Buy 107.06 / 106.90 and take profit 107.46



FreshForex analyst



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