Forex. Forecast for today 07.10.2016: Business solutions GBP / USD, EUR / USD - sell
Forex forecast. Weather on October 7, 2016
The main event today Forex:
11.30 MSK. UK: Industrial Production for August (the previous value of 2.1% y / y; the forecast of 1.3% y / y).
15.30 MSK. United States: Unemployment rate for September (the previous value of 4.9%, forecast 4.9%).
15.30 MSK. US. Changing the number of people employed in non-farm payrolls for September (the previous value of 151K; 171K forecast)
15.30 MSK. US: Changes in average hourly wages for September (the previous value of 0.1% m / m forecast 0.2% m / m).
Forex. The euro dollar EUR / USD forecast for today 10/07/2016
On the main day of the week came the currency market. At the auction in the United States released a report on the labor market in the US in September, and will determine the dynamics of trading.
What kind of Non Farm Data today is worth waiting for investors? Most likely the data will come out positive, this will increase the demand for greenbacks from the ISM Employment in the services sector rose to the highest since November 2015, and the rate of applications for unemployment benefits at a minimum since 1970! The number of initialapplications below 300,000 for 83 consecutive weeks. These figures indicate the level of Non-Farm above 200 thousand. On Thursday, the dollar index USDX broke the level of 96.5, and has opened the way to a mark 97.62, this implies a decrease in EUR / USD quotes at 1.1050 area. Trading on credit markets also do not leave without attention: the yield on 10-year German government bonds reduced to English and American, it reduces the attractiveness of investments in the assets of the Old World, and a negative impact on the euro quotes.
EUR / USD recommendation : Investor for s ro with the dollar today is worth to sell the pair EUR / USD on the growth of quotations of the Sell to 1.1170 / 1.1210 and take profit at the level of 1.1050.
Forex. Couple pound dollar forecast GBP / USD today 07/10/2016
Three reasons for investors to wait for British growth in the first half of trading:
The first reason , growing in relation to the German and the US, this is a positive factor for the currency Albion on Thursday on the bond market the yield on 10-year British government bonds.
The second reason , the demand for oil among investors remains stable, it can reassure bears on profit-taking on short positions, as between a pair of oil and historically a direct correlation.
The third reason , the forex trading in Europe, investors should wait for the release of positive data on industrial production in the United Kingdom in August against the background of the devaluation of sterling and rising export orders. Manufacturing PMI index for August showed growth results immediately by 5.1% to its highest level in nine months. As noted earlier, in the afternoon from the United States should not expect the positive macroeconomic statistics, which will cause a new round of sales Starling.
Business solutions for the pair GBP / USD :
the Buy to reduce quotations to 1.2610 / 1.2570 and take profit at the level of 1.2680.
The Sell on the growth of quotations to 1.2680 / 1.2720 and take profit at the level of 1, 2600.
Forex. The dollar yen forecast USD / JPY today 07/10/2016
The pair shows strong growth in the last seven weeks of trading, taking into account the positive news background, I recommend to trade only in the direction of an upward trend. Trading on the reversal of the trend is very dangerous, because the yield differential on 10-year US government bonds and Japan is at a peak in the last 4 months, and if you look at the chart, the pair is trading at the beginning of the summer in the field of 110 pieces. Today I expect strong employment data in the United States, and against this background that the spread in bond yields could further expand. Thus, the potential for growth of quotations is not yet exhausted. Strong demand is also observed in the segment of high-yield cross-rates, indicating that the growth of carry trade operations and, in turn, will increase pressure on the yen as a funding currency.
USDJPY recommendations : Investors should buy the pair USD / JPY Buy on decline of quotations to 103.60 / 103.20 and take profit at the level of 104.50.
Aleksandr Goryachev
Analyst « FreshForex »
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