15:30 MSK. US: Consumer Price Index for February.
17:30 MSK. US data on crude oil inventories from the Energy Department.
The forecast of the euro to the dollar EURUSD today 03/11/2020
The European currency shows the correction before the meeting of the ECB, which will be held tomorrow. ECB tomorrow may reduce the deposit rate, increase the volume of purchases of bonds and lower forecasts for GDP against the background of coronavirus. It is worth noting that he is not afraid of coronavirus, and quarantine, which is introduced on the eve of Italy. For investors, this will be a good excuse to take profits on "Long" in the euro. Today, it is not necessary to wait for reduction of gold, which will put additional pressure on the euro, as both asset correlate well with each other. If you look at the classic intermarket relationship of gold and oil, it now stands at 45, with an average value over the last 40 years 20. Even in the period of panic sales of oil at the beginning of 2016, when the price tag BRENT fell to $ 27.5, the ratio was 41. It turns gold overbought and oversold oil. Let me remind you that on Monday morning, the ratio of gold and oil was at 50, and for a long time, this level did not last, started upward correction in oil. Even if you focus on the value of 41, which was in January 2016 at the time of the collapse of oil prices, the gold can fall in the coming days at $ 1625, while oil BRENT grow to $ 39.6. But again, 41 is still an extreme value and gradually it will be reduced.
EURUSD recommendation: Sell 1.1340 / 1.1360, and take profit 1.1300
Forex GBPUSD forecast for today 03/11/2020
In the United Kingdom still do not know how to negotiate with the EU on customs issues. BREXIT on January 31, but the confused yet from him, because there was a divorce with Brussels without an agreement that would satisfy everyone. British Prime Minister Boris Johnson says all is that everything will be fine, that is already alarming. When politicians say that all is well, then expect trouble - known traders saying. Yesterday on the forex observed sell the pound. What could expand the market today? It is difficult to single out any factors in this case to sell the pound from current levels also do not want to, because in a week the US Federal Reserve will again cut interest rates than would put pressure on the dollar.
GBPUSD recommendation: flat 1.2880 -1.2955.
USDJPY forecast for today 03/11/2020
The bidding is still dependent on the mood of investors, which are traded on the stock markets. And their mood, in turn, depend on the incentives that implement the central banks and politicians, especially in the US, as the economy №1 in the world. What do we have to incentives at the moment? Let's start with the politicians. Donald Trump is now active as ever. Still, in 8 months will be a new presidential election, and he wants them to win, but the fall of the stock market can put a cross on his future career. Why? Most American families own shares, buying them every month on their savings and increase the yield of the stock market leads to an increase in household income. The opposite is true, and there is now just the reverse scenario. Trump on Tuesday proposed to reduce taxes on wages, as well as help airlines,
What makes the central bank is now in the face of the Fed? The Fed also does not miss and actively printing money, allowing them to commercial banks in the framework of short-term financing operations. It is worth noting that a lot of print. For example, on Friday, March 6 printed $ 89.6 bln., On Monday, March 9 $ 112.93 billion., On Tuesday, March 10 $ 123.62 billion. Trend rising and this trend usually like investors. Why, then, do not have the rapid growth of the stock market? Investors always react differently to such events: sometimes growth begins immediately, and sometimes with a delay of one to two weeks. Now we have it the second scenario. What we have in the dry residue? Sentiment in the US stock market will improve, which will positively affect the value of a given currency pair.
USDJPY recommendation: Buy 104.60 / 104.30 and take profit 105.10