Forex Events today:
02.30 MSK. Japan: Consumer Price Index (the previous value of 0.3% y / y, forecast 0.3% y / y).
12.00 MSK. Eurozone: Consumer Price Index (the previous value of 1.5% y / y, forecast 1.8% y / y).
15:30 MSK. USA: Change of GDP for the quarter in Q1 (the previous value of 2.1% q / q; forecast 1.3% q / q).
EUR / USD EUR USD forecast for today 28/04/2017
At first look at the results of the ECB meeting. Bank left at the same level, and kept the asset repurchase program of $ 60 billion. Euros before the end of 2017. Mario Draghi said that inflation will remain low in the short term and the question of full QE program termination can only be lifted when the CPI reaches a stable level of 2%. In general, the euro, this factor is neutral.
US Q1 GDP today in the focus of the market. Investors and speculators are very pessimistic about the US economic growth prospects. And they can be understood as declining exports on strong dollar, as long as Trump says more than doing something good for the economy. On Wall Street experts nod to the weak retail sales data and point to it as the main negative factor for GDP. Of course, in retail sales are important, but there are two key indicators, which allows us to understand what is happening in the US economy. The first indicator - this ISM indices for industry and services. Both indicators rose in the first quarter. The second indicator - an index of cash consumption. This indicator also showed acceleration. In view of these factors should wait for the data better than expected median, which has a positive impact on the value of the dollar.
EUR / USD recommendation 28.04.2017: Sell 1,0890 / 1,0930 and take profit 1,0815.
GBP / USD Pound Dollar forecast for today 04/28/2017
In the second half of trading today is speculators to sell sterling, based on profit-taking on long positions. Today is the last day of the month and in the light of positive data on US GDP, which has been discussed above, we can expect the closure of the "Long". The news from America - to date key events that will cause a strong market reaction. In April, the Briton added 2.8% and the technical correction has fully matured. Taking into account the reduction of the cross-rate EUR / GBP in the first half of the couple can expect growth of quotations in the area of 1.2930 / 1.2960, where it is possible to open positions in the British currency market.
GBP / USD recommendation 28.04.2017: Sell 1,2930 / 1,2960 and take profit 1,2840.
USD / JPY forecast pair yen dollar today 04.28.2017
VIX fear index is 4% 10-year low, signaling the completion of the US phase of the stock market growth and the beginning of the correction. A similar index of fear for the Japanese stock market is also near 10-year low. Thus, the two largest stock markets, we are seeing the same trend of the planet, which signals the correction. Today, probably, investors waiting for the growth of quotations on the stock markets, as markets need to drive as high as possible, before the strong descent. In addition, statistics from the United States has to purchases of equity securities.
USD / JPY recommendation 28.04.2017: Buy 111,15 / 110,85 and take profit 111,90.
Aleksandr Goryachev
Company analyst FreshForex
