Daily market review 30 March

12:00 ** Consumer Price Index – March (Germany)
12:00 ** Consumer Price Index – EU Harmonised – March (Germany)
According to the average forecasts of economists, the rate of inflation in Germany may slow down. Confirmation of the forecast is negative for the euro. At the same time, high values ​​in the report may support the euro in the short term.
12:30 ** Gross Domestic Product – IV quarter (USA)
Economists expect a revision of the preliminary estimate of GDP for the IV quarter of 2016 from 1.9% to 2.0%. Confirmation or excess of the forecast is favorable for the US dollar in the short term.
12:30 ** Unemployment Claims – March (United States)
A slight decrease in this indicator, with a revision of GDP growth rates upward, we can observe the further strengthening of the US dollar. However, unexpectedly weak data, in comparison with the expectations of economists, can weaken investor interest in the US dollar.
13:45 ** FOMC Member Loretta Mester Speaks – March (United States)
15:00 ** FOMC Member Robert Kaplan Speaks – March (United States)
20:30 ** FOMC Member William Dudley Speaks – March (United States)
EUR / USD
After some decline in the North American session, the US dollar recovered slightly in Asian trading (+ 0.1% as of 6:00 GMT). And we want to draw your attention to the fact that there were again signals that the Fed could raise rates this year more often than the markets expect. On Wednesday, John Williams, president of the Federal Reserve Bank of San Francisco, said that more frequent increases in interest rates are required to ensure sustained economic growth.
As part of the information pressure from the fact that Article 50 was launched by Britain, as well as in the conditions of future elections in France, there are no reasons for the growth of the euro. It is more likely that we will continue to observe the strengthening of the US dollar. So, in conditions of global uncertainty, investors begin to believe the American more.
Inside the day, while trades pass below 144 EMA, actual sales are actual. If quotes kill this dynamic level upwards – correction is possible and higher.
USD / JPY
The yen is not the most interesting for trading now, because we would keep neutral sentiments for this asset. It is still possible growth to the resistance of 111.70. In the range of 111.70-111.90 if a reversal is formed (for this purpose it is desirable to see a good retreat inside the day on hourly, or 4 hour schedules), then it will be possible to resume the build-up of short positions.
In the breakdown of the support of 109.90, the next target will be the level of 105.30.
The stochastic oscillator (14.3.5) on the 4-hour chart has not yet reached the overbought zone, which confirms the need to be cautious with USD/JPY sales.

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