This week, the dollar may fall to 117.5 yen

January 12, 2015

The December statistics on the US labor market published on Friday, did not provide sufficient support for the world's reserve currency. Despite the decline in the unemployment rate to 5.6%, and the growth of employment outside the agricultural sector in the US by 252 thousand, investors preferred to fix a part of long positions in the US dollar due to a 0.2% (m/m) fall in the average hourly wage. According to the minutes of the December of the Federal Reserve meeting, the US regulator will start raising interest rates, even with the consumer inflation below the 2% level, however, not earlier than April 2015. Nevertheless, this week, the world's reserve currency is likely to react nervously to the publication of consumer price inflation in the US for the month of December. Its expected fall to 1.0% (y/y) may cause the USDJPY pair to decline to the 117.50 level.

This week, the statistics on the volume of industrial production, inflation and foreign trade in the euro zone could put pressure on the euro. Meanwhile, given the clear oversold euro, in the short term, a corrective growth in the EURUSD pair to the 1.1900 level can not be ruled out.

On January 13, attention should be paid to the publication of the inflation statistics for the UK, on 14 January - to the retail sales data in the United States, on January 15 - to the December statistics on the labor market in Australia. During the week, the pound may re-test the 1.5050 level, and the Aussie may gain a foothold in the 0,8250-0,8350 range.

Publication source
EXNESS information  EXNESS reviews

January 16, 2017
Surging equities at risk ahead of earnings season
While earnings season has started on a very positive footing, however, banks and other financial companies were already expected to shine more than others due to rising interest rate expectations. As non-financial companies begin to report in the coming weeks...
January 16, 2017
Oil prices were unmoved
After reaching 56.50 dollars per barrel Brent rolled back to 55.50. The benchmark started Friday in a consolidation. Brent extended its sideways trades during the European session. The “black gold” was range-bound-to lower during the day...
January 16, 2017
XAUUSD at major resistance, time to sell
We turn bearish below 1198 resistance (Fibonacci retracement, horizontal resistance) as we prepare to see a strong move down to 1176 support (Fibonacci retracement, recent swing low support, Fibonacci projection)...

EXNESS Rating
FIBO Group Rating
FXCM Rating
Trade360 Rating
 FXTM Rating
Vantage FX Rating

EZTrader Rating
Grand Option Rating
Binary Brokerz Rating
OptionBit Rating
TropicalTrade Rating
24option Rating