Hottest Forecast by AccentForex - page 108
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GBPUSD:
The U.K. Consumer Price report may trigger a more meaningful correction in the GBPUSD as a slower rate of inflation raises the Bank of England’s (BoE) scope to retain its highly accommodative policy stance.
Primary Pair Impact: GBPUSD
Expected: 2.7%
Previous: 2.8%
DailyFX Forecast: 2.7% to 3.0%
USDJPY
The pair may test its major resistance at 99.00 as the US government forecasts to show accelerated figures for retail sales. It is better to the target 99.50. And stop loss in this case will be 99.16.
- Risk-off in Asia has European FX losing ground to JPY, USD.
- ECB press conference to stoke more volatility than the rate announcement.
- Soft PMI Manufacturing could signal near-term pullback in UK growth momentum; PMI Construction today.
EURUSD
If the pair breaks the level 1.35290 than bullish movement is expected. This moving is going to be to the level 1.35590 level and the next level will be 1.35980.
An interest rate decision from the European Central Bank headlines the economic calendar in the hours ahead. Expectations call for no changes in the policy mix, with target rate due to remain at 0.50 percent along with the pledge to keep borrowing costs at the current setting or lower for an “extended period”. That shifts the spotlight to the post-announcement press conference from ECB President Mario Draghi.
The European Central Bank (ECB) is expected to keep the benchmark interest rate at 0.50% as the monetary union returns to growth, but President Mario Draghi may show a greater willingness further embark on the easing cycle in an effort to encourage a stronger recovery.
What’s Expected:
Time of release: 10/02/2013 11:45 GMT, 7:45 EDT
Primary Pair Impact: EURUSD
Expected: 0.50%
Previous: 0.50%
DailyFX Forecast: 0.50%
GBPUSD
The pair may test its major resistance at 1.61900 as the than pound price will start bearish movement. It is better to sell to the target 1.61270. And stop loss in this case will be 1.62100.
EURUSD
If the pair breaks the level 1.35700 than bearish movement is expected. This moving is going to be to the level 1.35190 level and the next level will be 1.34580.