Fundamental Analysis | EURUSD / GBPUSD | 20 of April

Posted 20 April, 2017

 

Markets are gradually calming down after the extreme rise of the British pound on Wednesday. Yesterday, the euro fell by 17 points, the pound - by 62 points. Trade Balance in the Eurozone was able to support the euro - the indicator amounted to 19.2 billion euros against 15.7 billion in January. Final estimates for the Consumer Price Indexes remained unchanged: 0.7% y/y for the base one and 1.5% for the total. Meanwhile in France, Emmanuel Macron is ahead of Le Pen by 1%. This news is optimism for euro investors. Three of the leaders are closed by Fionon with 19.5%. Beige Book for April was with positive content. It is noteworthy that the economic report have no regrets about the expensive dollar, as it was before.


Today we are waiting for release of not too important macroeconomic data. Producer Price Index has already managed to show zero growth against the expected growth by 0.2%. Consumer Confidence may decline from -5 to -4.8. Further in the US Philly Fed Manufacturing Index is expected with decrease from 32.8 to 25.6. Weekly Unemployment Claims can grow from 234 thousand to 241 thousand. CB Leading Index is projected to grow by 0.2% after the increase in February by 0.6%. Tonight in Washington there will be held speeches of the BoE Governor Mark Carney and the US Treasury Secretary Steven Mnuchin.

 


EURUSD currency pair is trading again around the level of 1.0730. We expect a possible growth of the single currency to the middle of 1.0730-1.0800. GBPUSD could not consolidate above 1.2860 and fell to the middle of 1.2685-1.2860. It is possible a growth of the pound to 1.3000.

Previous forecast

20 April, 2017 11:00

← Daily Analysis from EW-Forecast | GBPUSD | 20 of April

Cable is making a strong rise away from 1.2364, clearly in impulsive fashion which can see extension up to 1.300 area for wave C. In the meantime be aware of a short-term set-backs which will be fourth sub waves within uptrend. We see market in bullish mode now as long as pair trades above 1.2620.

Daily Analysis from EW-Forecast | GBPUSD | 20 of April

Next forecast

19 April, 2017 10:00

Fundamental Analysis | EURUSD / GBPUSD | 19 of April →

The British Prime Minister Theresa May brought a confusion to the markets yesterday. Pound sterling sharply rose  by 276 points, the euro also showed an increase by 88 points. Theresa May has announced early parliamentary elections on June 8, which were to be held in 2020.

Fundamental Analysis | EURUSD / GBPUSD | 19 of April
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