The dollar reacted quite actively at the statistics, and generally stuck to an upward trajectory. The second estimate of US GDP pleased - index came in at + 1.4% vs. + 1.3% previous estimate of 1.1%. However, the positive picture spoiled weak data on pending transactions in the housing market, which declined by 2.4% m / m against the forecast of 0.0%. The rhetoric of Fed speakers wore controversial, continued to baffle currency. So, for example, E. Jorde believes that the time has come to raise rates, while Powell made it clear that the regulator still has "patience".
Review and Forecast EURUSD 30.09.2016
The euro dollar traded without clearly specified motion vector. At the moment the pair touched lows under the mark of 1.12, but then settled above psihologicheskog of level. Ambiguous behavior of the dollar interfere with the pair to determine the direction. As a result, quotes continue protorgovyvat mark. Despite the persistence of hope for a rate increase, holding the dollar afloat, the euro, too, does not want to give up. And in many respects it is promoted by favorable statistics from the eurozone. Yesterday we received another portion of itself. The index of economic sentiment in the region rose to 104.9 vs. 103.5. Improving indicators reduces the likelihood that the ECB will hint at the prospects for additional stimulus. This, in turn, serves as a support for the single currency. We believe that before the end of the week the pair can not get out of this range and will continue to "woo" the level of 1.12.
Review and Forecast GBPUSD 30.09.2016
Couple pound dollar collapsed for no apparent catalyst for the 3-day m lows near 1.2953, losing 1.30 level again.Having reached 1.3057, the pair attracted sellers. In part, the weakening of the pound as a risky asset can be attributed to the rapid extinction of euphoria around the rhenium OPEC to restrict oil production. Despite reaching a consensus within the cartel, the markets have little confidence in the implementation of the agreements, especially as the details of the agreement will be known only at the end of November. Today, the pound will be tested for strength as on the British GDP for the second quarter report. The result is lower than expected increase pressure on share prices, although the bearish momentum can be limited.
Review and Forecast USDJPY 30.09.2016
The dollar, the yen actively growing before the US session. Having reached 101.83, the pair changed the motion vector in the region skorrektrovavshis psychological level of 101.00. The main driver has been the strengthening of the widespread weakening of the yen on the increased interest in risk after news from the fields of the Algerian Forum. However, as the only positive was played, the dollar lost its bullish momentum, losing part of the Japanese currency positions. If the oil market will continue downward correction, and the ranks of the skeptics to question the OPEC agreement to be replenished, the attractiveness of the yen will rise again.
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