The main event for traders today:
12.00 MSK. Germany: The indicator of business environment from IFO for December (the previous value of 110.4; 110.7 forecast).
Forex forecast euro dollar (EUR / USD) as of today 19/12/2016
Today traders of macroeconomic statistics is to provide a report on the IFO index in Germany in December. This indicator allows us to estimate the prospects of economic growth in the eurozone locomotive, as it covers the key sectors of the economy.
The index is closely correlated with the dynamics of the composite PMI Markit, which last week showed a decline compared to the previous month. In this context, against this background, the conclusion is that the data will go a little worse than expected median, it will have a short-term pressure on the euro. Today, investors should wait for quotations on the world stock markets, it will support the euro as the currency of funding. The last two days of trading in the US stock market in the lead defensive sectors of paper sectors: utilities, and non-cyclic products. This positioning indicates a decrease in "risk appetite".
Trading recommendation EUR / USD: the Buy 1.0430 / 1,0400; take profit 1,0500.
Forex forecast pair Pound Dollar (GBP / USD) as of today 19/12/2016
Traders pound, two reasons to use to increase sales:
The first reason, the credit markets the yield of British 10-year government bonds is reduced in relation to the German and American, which reduces the attractiveness of investments in asset s of the United Kingdom.
The second reason, the likely decline in oil prices due to lower "risk appetite" and report adverse Baker Hughes oilfield services company, which on Friday reported about the growth of drilling platforms in the US for 12 units. Vertical installation, that the most effective in terms of production, increased by 1 unit.
Trading recommendation GBP / USD: the Sell 1,2500 / 1.2530 , and take profit 1,2450.
Forex forecast pair Dollar Yen (USD / JPY) 12.19.2016 Today
Investors on the dollar in tandem with the Japanese currency today is worth waiting for the development of corrective movement on profit taking on long positions in the equity markets in Japan and the United States. The fact that investors are in a "safe haven" and indicates the dynamics of gold - precious metals on Friday showed an increase of 0.61%, after a strong three-day decline. This week will be the last in the current year, when liquidity is high enough in the markets. For many market participants will not work on Friday December 23 and will leave for the Christmas holidays. Against this background, it is natural to expect the closing position and access to the cache. The development of the downward trend indicated by the dynamics of the debt markets: the last trading day last week, the spread of the US and Japan showed government bonds, though small, but still a decrease.
Trading recommendation USD / JPY: Sell 118,00 / 118,30; take profit 117,50.
Aleksandr Goryachev Company Analyst FreshForex
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