Forex forecast EUR / USD on 04.17.2017 Tonight
Report on inflation in the US, which was released on Friday, April 14, allows you to make a comparison with the European index. The first conclusion - the consumer price index slowed in both economies. The second conclusion - in the euro area is stronger slowdown than the American "colleagues." The third conclusion - such dynamics will support the dollar in the short term, even though the fact that the US data came out worse than expected median. Inflation - is №1 news for the Forex Market, as it is inflation causes a change in central bank interest rates, and these rates in turn affect the trends, the impact is very strong. Today is not expected important macroeconomic statistics from the eurozone and the US.
Many investors continue to be at the Easter holidays and in this regard, today we expect sluggish trade. Speculators have a rest and have switched off their trading robots. Tomorrow we will see a surge in volatility in the early hours of the European trading session, as investors return to active trading.
EUR / USD recommendation 17/04/2017: Sell 1,0620 / 1,0660 and take profit 1,0571.
Forex forecast GBP / USD today 04/17/2017
Data from the US inflation tossed players food for thought. On the one hand, inflation slowed to 2.4%, although the market expected level of 2.6% is obtained and that this factor is negative for the dollar. On the other hand, the base 17 consecutive months inflation is at a level of 2% or more, which indicates stable inflation trend. The Fed rate is now at 0.87%, and the difference of inflation is 1.52%. Thus, the Fed's policy is still stimulating and even raise the rate another 2 times this year (as promised D. Yellen), the rate will still lower than inflation. Thus, this factor is positive for the US dollar. But on the first trading day of the week I expect of sideways as London banks, which make the main turnover on Forex, do not work today.
GBP / USD recommendation 17.04.2017: flat 1.2480 -1.2550.
Forex Forecast USD / JPY today 04/17/2017
Trading on the forex pair yen dollar today will determine the mood on Asian stock markets. On Friday, there was a wave of sales in emerging markets, which is a positive factor for the yen as a funding currency. The dynamics of emerging markets - is a litmus test that allows you to understand the "risk appetite". For example, Russia's MICEX index fell by 1.46%. In general, over the past week the Russian stock market indicator has lost 5.14%, returning to the levels of early August 2016. Fears on the Russian market are enhanced, which also confirms the dynamics of the debt market: the spread of government 5-year bonds and similar bonds of Sberbank in the last five days increased from 0.8% to 1%. It is worth noting that the maximum level of the current year the MICEX index fell by 15%. On the other hand, 15% correction happens every year on the Russian index, and then began a good growth of quotations. It is likely, today's emerging markets players will see a sideways trend, as traders will not rush to open new positions due to the lack of major market participants.
USD / JPY recommendation 04.17.2017: flat 108,25-109,20.
Aleksandr Goryachev
Company analyst FreshForex
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