In general, the news background of today, like the whole week, will be weak. But traders still need to pay attention to the comments of FOMC member Jerome Powell, as well as the publication of reports on the number of initial applications change in the for unemployment benefits in the US and the production index of the Fed-Philadelphia.
15:00 ** FOMC Member Jerome Powell Speaks – April (USA)
15:30 *** Phil. Fed Manufacturing Index – April (USA)
Let me remind you that in February, the production index of the Fed of Philadelphia rose by a record 19.7 points to 43.3 points, with an average value over the past 12-18 months below 10 points. Accordingly, the forecasted decline in the figure to 25.6 points is difficult to call negative for USD, but higher rates of decline in the index will still put pressure on the currency.
15:30 *** Number of initial applications for unemployment benefits / Unemployment Claims – April (USA)
It is important to note that the first two weeks of April this indicator was kept low enough, which is positive for the dollar. Accordingly, its growth is quite logical, as indicated by the forecasts of economists. But the excess of the projected growth rates of this indicator, with further decline in the production index of the Fed-Philadelphia, may lead to a more powerful USD fault.
18:30 *** BOE Governor Mark Carney Speaks – April (Britain)
19:30 *** BOE Governor Mark Carney Speaks – April (Britain)
EUR / USD
For yesterday, the rollback-correction down was 23.6% on Fibonacci from the last jump up on April 17. In general, we still retain the idea of EURUSD growth with the target at the level of 1.0820. Despite the upcoming elections in France, the euro is ready to grow further with a weak USD.
USD / JPY
Now the level 109.00 has come up as resistance. The couple can not even go up. Therefore, we believe that the retention of previously opened sales was the right scenario and for now, we will hold short positions. The sales target is in the range of 105.5-105.00.
GBP / USD
The correction down yesterday was also too weak, which confirms our forecast about the likelihood of additional growth with the achievement of resistance of 1.3000-1.3200. Until recently, we will not see the reversal candle configuration, we will not sell.
AUD / USD
AUD is again the most obedient and the fall of the pair is quietly practiced. When adjusting upwards within a day on a weak US dollar, it is likely that resistance will reach 0.7540, and we will keep sales to the support area of 0.7470-0.7380.