Forex Events today:
12:30 MSK. United Kingdom: CPI for February (the previous value of 1.8% y / y; the forecast of 2.1% y / y).
16.30 MSK. USA: The balance of payments current account balance for the 4th quarter (previous value -113.0B; -129.0B forecast).
Forex. Euro Dollar EUR / USD forecast for today 03/21/2017
The euro dollar uzhzhe three days of trading in the forex the flat in a narrow 1.0705 -1.0781. Fundamental background shows a mixed trend. On the one hand, on the bond market the yield on 10-year German government bonds showed growth to the English and American papers, which is positive for the euro. On the other hand, the index of "fear" the VIX, which is calculated for the US S & P500 stock index finished trading on Monday in the "red zone", which could put pressure on the quotes of the currency of the Old World.
In the second half of the trading players to pay attention to the data on the US balance of payments for the 4th quarter of last year. Trederam worth waiting for release of the data slightly better than median forecasts, as rising interest rates allowed the US to increase the flow of capital, which reduces the negative effect of the decline in exports. This report can have a positive impact on the value of the dollar and the breakdown of the bottom border of the flat, you can open Sell position.
EUR / USD recommendation 21.03.2017: the Sell 1.0699 and take profit 1,0645.
Forex. Pound Dollar forecast GBP / USD today 21/03/2017
Today, the main event for the sterling report on inflation in the UK in February. On the heads of the Bank of England last week announced that inflation will reach the level of 2% or even slightly exceed it in the next three months. The market has played a factor and to pound continued his winning streak in the "north" today's report should come out better than expected median. Whether such a scenario is realized? Probably not.
Firstly, at the end of January at the Albion recorded decrease in the growth rate of wages, which is a negative factor for inflation.
Secondly, by 0.3% in February fell by energy prices, which is also a negative for the consumer price index.
Given the "low base" in February 2016, and the strong devaluation of the British pound in the past nine months, we can expect the final release of data at the level of 2% -2.1%, which is not much please the market. The decline of oil prices, which is observed in the commodity market, also plays into the hands of "bears" because of the strong inverse correlation of crude oil and the US dollar.
GBP / USD recommendation 21.03.2017: the Sell 1.2380 / 1.2430, and take profit 1,2315.
Forex. Dollar Yen Forecast USD / JPY today 03/21/2017
Today, the course of trading in the dollar yen pair will determine the mood in the stock markets. In general, currently remain optimistic on Asian equity markets, Europe and North America, which will support the quotation USD / JPY. The main driver is the stock index S & P500 - namely its strong growth could lead the pair to new highs month. Now the whole question of time - it will happen in this five-day, or have to wait another week or two. While the primary US stock index shows a sideways trend. On Monday, the outsiders were paper utilities, and high-tech sectors, in aggregate basic materials sector, showed good growth. This positioning of investors indicates that the market is ready to continue the upward trend.
USD / JPY recommendation 21.03.2017: the Buy 112.35 / 112,00 and take profit 113,00.
Aleksandr Goryachev
Company Analyst FreshForex
