Forex. Weather forecast on October 4, 2016, EUR / USD
The main event for traders today:
11.30 MSK. United Kingdom: PMI index for the construction sector in September (the previous value of 49.2, forecast 49.1).
Forex. Currency pair EUR USD forecast for today EUR / USD 04.10.2016
Instrument EUR / USD the fourth week of trading in the forex market holds a narrow sideways range 1,1122-1,1278, and due to the fact that today is an important macroeconomic statistics from the US and the Old World will not, market participants once again waiting for the sluggish trade.
The euro dollar is likely to show growth on the background of the strengthening of the upward trend in the cross-rate EUR / GBP: investors are increasing their long positions waiting for new incentives to the Bank of England next month. On Monday, the bond market has increased the yield spread of German and British 10-year bonds. Do not leave without attention and the dynamics of the commodity market: four days of oil covers trade in "green area", it is negative for the American. However, demand has grown significantly in the London interbank lending market for cash dollars, the signal for increasing the "shorts". The media began to disseminate information that this high demand fuels the Deutsche Bank, which has a big problem with balance. True or not only time will tell, but one thing is true, that the demand for dollars in London and it has played into the hands of the bears.
EURUSD recommendations : Investors today the euro dollar pair is worth waiting for trade in a sideways channel 1,1170-1,1270.
Forex. The currency pair Pound Dollar forecast for today GBP / USD 10.04.2016
Two reasons for investors to sell the pound on the foreign exchange market:
The first reason , investors on Monday ignored positive data on the production sector PMI for September, the United Kingdom, which indicates a large number of strong sellers in the market. The index rose to the highest level since November 2015 against the background of increased production in the domestic market, and an increase in export orders due to the devaluation of the pound. In this context, the economy of Albion probably show economic growth in the medium term, it will encourage traders to buy British currency. After the publication of the data the pound was up, but the growth of the sterling was weak, and already in the auction in the US a pound of fresh daily lows. Ignored traders and positive background from the black gold market.
The second reason , the yield on 10-year British government bonds decreased to German and American, it reduces the attractiveness of investments in the assets of Albion, and will put pressure on the pound.
GBP / USD recommendation : inves tors today is selling a pair gbp usd Sell on the growth of quotations to 1.2880 / 1.2920 and take profit at the level of 1.2810.
Forex. Currency pair yen dollar forecast for today USD / JPY 04.10.2016
Investors - build long positions on pullbacks. Yesterday's data on business activity in the US and Japan, the industrial sector showed mixed trends in favor of the States. Tankan index came below expectations of the median, and the ISM pleased traders positive data.Although, this is not surprising, since low inflation expectations in Japan, together with the high rate of the yen had a negative impact on the industrial sector. Against this backdrop, expanding the differential in yield of US and Japanese 10-year government bonds, this is a positive impact on quotations of greenbacks.
USD / JPY recommendations : Investors on the dollar against the yen is worth buying a pair Buy on decline of quotations to 101.40 / 101.00 and take profit at the level of 101.85.
Aleksandr Goryachev
Analyst « FreshForex »
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