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Forex forecast and recommendations today 12.12.2019: EURUSD - meeting Christine Lagarde, GBPUSD - parliamentary elections, USDJPY


Events today:

15.45 MSK. Eurozone: The publication of the ECB's decision on the basic interest rate.

UK: parliamentary elections

Forex EURUSD forecast for today 12/12/2019

Today will be the first meeting of Christine Lagarde as head of the ECB. What is the legacy left by Mario Draghi, the new head? The first is the problem of inflation and GDP. Both figures are low, both are interrelated and both indicators do not show significant growth, despite the best efforts of the Central Bank, which holds zero interest rates and printing money. Most likely today K. Lagarde will not make meaningful statements and limited to the traditional set of phrases, as this first meeting as head of the Central Bank. Lagarde noted the problems with low inflation and possibly suggest using fiscal policy, euro area countries to solve this problem, because the monetary methods of proven bad.

EURUSD recommendation: Sell 1.1155 / 1.1170, and take profit 1.1065




GBPUSD forex forecast for today 12/12/2019

In the UK, will be held early parliamentary elections. They initiated the Prime Minister B. Johnson, who in October was unable to win the support of Parliament to bring to a logical conclusion to the story BREXIT. Now, Johnson and his colleagues on the Conservative Party wants to get a majority of seats, at the end of January 2020 to complete the BREXIT. The first results of the voting, we get tonight and until that time we can expect a sideways trend on the British currency. Next market will surge in volatility and we will see a strong growth of quotations or strong fall.

GBPUSD recommendation: flat 1.3160 ​​-1.3235



USDJPY forecast for today 12/12/2019

Consumer prices rose by 2.1% in annual terms in the US in November - for the month rose by 0.3%. Food prices in the United States rose by 2%, and energy on the other hand, fell by 0.6%. Since last week we have seen the bullish trend on the oil market, as of December can be expected to increase in energy prices, which will lead to higher inflation. Positive news for the US dollar, since it is possible to expect growth of profitability of US government bonds.

USDJPY recommendation: Buy 108.50 / 108.34 and take profit 109.22



FreshForex analyst and forecast


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