Latests News 05-02-2016 by FXFINPRO
Forex forecasts
04.02.2016 - The New Zealand dollar continues a steady growth
Price of New Zealand dollar continues to show an upward movement during which was able to break through the important resistance levels at 0.6600 and 0.6700. Within the local upward impulse, quotations can reach the levels of 0.6800 and 0.6885. According to our estimates, the current expansion will be completed in the near future and the price will return to the levels of 0.6500 and 0.6350, and then will continue the negative dynamics.
Forex and CFD
04.02.2016 - Technical view
Currencies trading and euro. The price of EUR/USD showed strong growth during which broke through the upper boundary of the channel 1,0800-1,0985 within which adjusted for a considerable time. As a result, the quotations overcame the level of 1.1050 and reached the level of 1.1150. The next upside target level in case of saving the growth will be 1.1200, and then rising dynamics may continue to 1.1400. After strong growth, we can see the price correction. Our medium-term outlook remains negative, but the current growth may continue in the near future.
Nearest resistance levels: 1.1200, 1.1350, 1.1450, 1.1500, 1.1750
Nearest support levels: 1.1080, 1.1050, 1.0985, 1.0900, 1.0800, 1.0700, 1.0550, 1.0500
04.02.2016 - The US dollar fell heavily
Currency trading and the euro. The price of euro showed a strong decline yesterday amid weakening of the US dollar, after the release of non-manufacturing PMI statistics in the US, which in January fell to its lowest level in 2 years. Thus, the index reached 53.5 in January, against the forecast of decline by 0.2, to 55.1. At the same time, the president of the Federal Reserve Bank of New York said that financial conditions have become more stringent and the rising dollar has a negative impact on the US economy. The drop in investors' confidence in raising interest rates this year, is leading to the growth of the euro against the dollar. Today we should pay attention to the statistics on the volume of factory orders in the US (15:00 GMT). Investors will not hurry with active movements due to the expectation of tomorrow's publication of report on the US labor market. Our medium-term outlook for the...
Experts' opinion
04.02.2016 - Eurozone GDP growth forecast has been reduced
Today the European Commission published forecasts for economic growth in the euro area. So, in 2016, the rate of expansion of the economy will be 1.7%, which is 0.1% less than the previous estimate. For 2017, the forecast remains unchanged - 1.9%. Unemployment is according to the latest data in the euro zone fell to 10.4% in 2016 will be 10.5%, which is 0.1% less than earlier estimates. These negative news will negatively influence the dynamics of the euro in the future. Current euro growth may continue in the near future to 1.1400, but our medium-term outlook remains negative.
Source: https://fxfinpro.com
