Africa Business and News World

US Dollar:Currency Investment market outlook today

The British Pound and the US Dollar in view

 

The British pound as we expected yesterday went to a small correction. Yesterday PMI was published – 54.2 against 52.8 expected. The indicator significantly exceeded the forecast. Now any positive macroeconomic statistics for the UK could easily strengthen the pound against the US dollar. Currently the pair is trading at 1.2315. Today an index of business activity in the services sector is publishing. With good data you can buy the GBP.

 

 

The Euro and the US Dollar outlook today

 

Euro yesterday went to good correction. The pair is currently at 1.0550. Yesterday an important indicator of inflation came out – the consumer price index: 1.1% vs. 1.0% expected. A result at 0.1% is essential for such a measure. This result suggests a possible increase in interest rates by the European Central Bank. These expectations for EUR could resume its growth to the level of 1.07.

 

The US Dollar and Japanese yen corrections

 

The yen also made a correction. In the Asian session JPY rose for 150 points. Do not count on a profound movement in the opposite direction. The pair is currently trading at 115.90. In the area of ​​115.30 there is a good level of support. Closer to this level you can look for a purchase. Bank of Japan is beneficial from cheap national currency, so we can expect the uptrend. Important economic data does not come out on the Japanese economy.

 

How does the Gold market look vs the OIL

 

As we expected oil was not able to gain a foothold above the level of $55.00. This volume of black gold in the market may keep prices at the level of $52-53. So expect a long buying is not necessary. It is more likely that oil today and in the near future will be in the region of $53.

 

Comments

What's your opinion?

Leave a Reply

Translate »