Weather on May 2, 2017 forex
Events traders today:
11:30 MSK. United Kingdom: PMI index for the manufacturing for April (the previous value of 54.2, forecast 54.0).
Euro Dollar EUR / USD forecast for today 05/02/2017
European traders had a rest, and now will begin an active trade, and in the first hours of trading as the British players should not expect spike in volatility. The Fed will issue investors with its decision on interest rates, and with this in mind, today the euro dollar market participants waiting for the flat. Investors will not rush to open positions and wait for the verdict of the FOMC. Players do not expect changes in interest rates, but everyone is interested in whether the increase of the meeting on 14 June. The regulator can take his favorite position and declare that the change in interest rates will occur in the case of strong macroeconomic data. Against this background, all the market's attention will switch to Friday statistics on wages and Non-Farm. It was a Friday report will be the main event of this week.
EUR / USD recommendation 02.05.2017: flat 1,0850-1,0950.
GBP / USD forecast GBP / USD today 05/02/2017
Today in the forex market traders on the pair GBP / USD is worth waiting for the depreciation of sterling. At what rate will fall Briton will depend on the data on industrial PMI UK. If the index will be released at the level of the median forecasts, it probably moderate reduction pounds. If the decline in business activity index will fall to 53.5 n. And below, the currency in England fall in prices will be significant. New factory orders in the United Kingdom at the end of April fell to a minimum over the past three months, it gives a signal to reduce the index of business activity. Do not leave without attention and decrease in oil prices. Oil is still under pressure and is ready to test the psychological level of $ 50 / barrel for Brent grade. The pair GBP / USD and oil are highly correlated, this factor is negative for the British.
GBP / USD recommendation 02.05.2017: Sell 1,2900 / 1,2940 and take profit 1,2850.
USD / JPY Forecast USD / JPY today 05/02/2017
USD / JPY has not yet completed its growth. Were putting the finishing touches - to drive the market either 112.15 or 112.86 to. "Risk appetite is" still high - investors buy shares, and fear VIX index on Monday fell by 5%. Moreover, this indicator has updated a maximum of the last 10 years, which signals the final stage of the bull market in the United States. But now the market can still go up. The same tendency is confirmed and copper which potyazhelela eve more than 2%. This metal is not only widely used in the industry, but is also a favorite tool of speculators. In this connection, we can expect pressure on the Japanese yen as a funding currency in carry trade №1 operations.
USD / JPY recommendation: Buy 111,60 / 111,28 and take profit 112,15.
Aleksandr Goryachev
Company analyst FreshForex
