16:30 MSK. US: Consumer Price Index
The euro dollar forex trading forecast for EURUSD today 13/02/2020
The main event of the day will be the publication of data on inflation in the United States in January. Market waits growth rate of 0.2% to 2.5%. Speaking on the eve of the head of the US Federal Reserve Jerome Powell said that inflation will show growth in the coming months. And the market is in full agreement with the opinion of the head of the Fed. How this event will affect the value of the dollar? The growth rate is already considered by the market, and on this background, expect moderate growth of quotations of the dollar after the data release. It is possible that growth will be observed for a few minutes, after which investors will start to take profits on their positions. It should be noted that the overall rate of inflation can not grow on 0.2% and 0.1%, which may be disappointing market. What to do in this case? Today should have refrained from active trading on the euro.
EURUSD recommendation: flat 1.0833 -1.0905
Pound Dollar forex GBPUSD forecast for today 13/02/2020
At present, formed a mixed background. On the one hand, the credit market is experiencing a decline in yield spread on 10-year UK / US government bonds, which is negative for the pound. On the other hand, the positive dynamics of the oil market can reassure traders to open a "Long" for the pound as the British currency is correlated with the black gold. Yesterday in Moscow hosted a meeting of the Ministry of Energy of Russia, with the heads of Russian oil and gas companies, which expressed the need to extend the deal OPEC + on current conditions before 1 July. Recall that the transaction is valid until April 1, and it is the position of Russia depends on its fate. Thus, OPEC + will renew the agreement on the limitation of oil production, which will positively affect the share prices of black gold.
GBPUSD recommendation: flat 1.2920 -1.2985
Dollar yen USDJPY Forex forecast for today 02/13/2020
The uptrend in the US stock market is gaining momentum, and this process provides good support to customers USDJPY, as this currency pair is historically korrreliruet with the S & P500 index. Fed Jerome Powell spoke on the eve of the head of the Banking Committee of the Senate of the US Congress, where he said that in the event of a downturn of the economy, the Federal Reserve without delay will make active use of quantitative easing. This is another signal to the stock markets, the Fed always ready to "lean on" in difficult times, turn on the printing press and to redeem all that bad, he could. Investors now with peace of mind to increase the purchase of corporate shares in North America, which is pushing the S & P500 to a new historical maximum.
USDJPY recommendation: Buy 109.75 / 109.60 and take profit 110.04