Weather in forex December 2, 2016
The main event for traders today:
United Kingdom: PMI index for the construction sector in November (the previous value of 52.6, forecast 52.3).
USA: Change the number of people employed in non-farm payrolls in November (the previous value of 161K; 165K forecast).
US: Changes in average hourly wage for November (the previous value of 2.8% y / y; the forecast of 2.8% y / y).
Forex. The forecast of the currency pair EUR / USD on December 2, 2016
Non-Farm payrolls - Today the main event for the markets. Non-Farm likely to come in the range of 195-205 thousand. That will support the course of greenbacks.
on the ADP employment report showed the growth rate to a maximum of the last four months, and the LED 4-week average for jobless benefits was on the new low this year. The report indicates the employment growth in the United States. Do not leave without attention and rapid growth, at the end of November, the consumer confidence index CB to the maximum in July 2007. This trend is already pointing to the growth of incomes of citizens, in this svzyazi worth waiting for good data on average earnings. The strong employment release will probably cause a new batch of rumors about the increase in inflation expectations in the medium term, which could force the US Federal Reserve in the summer to go to one more increase in interest rates. While the probability of a rate hike of up to 1% of 47.6% in June 2017, tomorrow, this level will be much higher.
EUR / USD recommendation: Players pair euro dollar pair is worth to sell Sell 1,0640 / 1,0700 with take profit 1,0520.
Forex. The forecast of the currency pair GBP / USD on December 2, 2016
Today the foreign exchange market traders, in the first half of the session is waiting for a moderate growth rate GBP / USD Amid the release of the PMI construction sector Albion better than expected median. Why come out better than expected data? Two reasons for this.
The first reason , real estate prices in the United Kingdom are restored after the fall of the June referendum, and a likely increase in production capacity builders.
The second reason , the number of mortgage approvals in October amounted to 67.5 thousand., That the maximum in the last six months. Mortgages - the main driver of growth of real estate market. Then, at the auction in the US, investors should not expect a decrease in quotations of the British. American statistics probably will please the players a positive report. In addition, investors in the commodities market will likely profit-taking on the oil contracts, and compensation for oil, which has a positive impact on the US dollar quotes. The price of oil for two days increased by 13% and taking into account the possible strengthening of the dollar index basket, investors will close longs ahead of the weekend.
GBP / USD recommendation: Investor for the pound against the dollar is selling a pair Sell 1,2620 / 1,2670 with take profit 1,2500.
Forex forecast the currency pair USD JPY USD / JPY on December 2, 2016
Investors on the dollar in tandem with the Japanese currency today is worth waiting for Thursday's high in the foreign exchange market (104.82), and then close the positions, as a correction. USD / JPY exchange rate is growing the fourth week, and taking into account potential fixing on the US stock market, in a pair of a correction. Why traders begin to close long positions on the US stock market? The S & P500 this week set a fresh historic high, while the yield on 10-year US Treasury bonds near two-year high. This increase in profitability in the credit markets has a negative impact on the mood of investors who buy shares. On the eve of the Nasdaq sank 1.5%, the first alarm.
USD / JPY recommendations: traders on the dollar yen pair is worth buying a pair Buy 113,90 / 113,50 to take profit 114,82.
Aleksandr Goryachev Company Analyst FreshForex
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