12:30 MSK. UK: Retail Sales.
Forex rate forecast euro dollar EURUSD today 01/17/2020
The United States is pleased with the market participants positive macroeconomic statistics on retail sales. Index increased by 0.7% in December, the investors expected growth by 0.5%. This is an important macroeconomic indicator as it shows consumer spending, which is the basis of US GDP. Debt market reacted positively to this report- the yield on 10-year US government bonds jumped up. Traders in EURUSD not expect decline of the euro quotations because the bond market dynamics signals a strengthening dollar.
EURUSD recommendation: Sell 1.1137 / 1.1150, and take profit 1.1110
Pound Dollar forex GBPUSD forecast for today 01/17/2020
The negative dynamics of the debt market indicates a fall of the British currency: the yield on 10-year UK government bonds decreased to US and German securities. Today, in the midst of trading in Europe will report on retail sales in the UK in December. Despite the fact that in this month of Christmas sales are worth waiting for release of weak data, as British consumers cut their spending according to recent opinion polls. Residents of Albion feared "hard BREXIT" and against this background to limit spending and increase savings.
GBPUSD recommendation: Sell 1.3074 / 1.3090, and take profit 1.3028
JPY Forex dollar USDJPY forecast for today 17/01/2020
Bullish rally on the US equity markets pointed to a continuation of the upward trend in this currency pair, because USDJPY is strongly correlated with the US S & P500 index. The US stock market is growing at a good corporate reporting and positive macroeconomic statistics. Most companies that reported this week, pleased investors with positive financial results for the 4th quarter and the statistics on retail sales in December surpassed the expectations of investors.
USDJPY recommendation: Buy 110.14 / 109.95 and take profit 110.41