News background and trading ideas as for 28/09/2018

On Thursday in the Forex market, basically, were being worked out the results of the FOMC meeting, which were announced on Wednesday evening. As we predicted, the dollar gained. So those of the readers who follow our recommendations should have been guaranteed to earn. But let’s back to the news and their analysis.

Of the macroeconomic statistics, first of all, worth mentioning data on US GDP. This is the final value, and usually, it’s not much different from previous estimates and forecasts of analysts, as we warned actually. So nothing changed this time either - GDP growth in the second quarter in the US was 4.2%. The indicator is just magnificent, which is another reason for dollar buying. Furthermore, pleasantly astonished the data on orders for durable goods in the US, with a forecast of 2.0%, their actual growth was 4.5% per month. The number is imposing. So Thursday can definitely be attributed to the dollar’s asset.

On the Brexit front without changes so is entirely predictable. According to the news, it is worth to note the remark of the President of France, who pointed that if the UK decides to hold another referendum that will cross out the results of the first, the EU will openly meet the UK in its family with open arms then. This comment does not make an effect on the overall picture and our position on the pound - we are looking for points for buying British currency.
It was another lousy news from Italy for the Euro yesterday, where the populist government continued to justify itself in a very negative sense. Namely, it expanded the budget deficit. Populists at the helm of the economy are always wrong. For examples, you do not have to go far - the current situation in the economy of Venezuela. And since Italy is an essential player of the European Union, for the euro this is terrible news indeed.

Friday regarding macroeconomic statistics promises to be an intensive day. First of all, draw attention to the UK GDP figures, consumer inflation in the Eurozone, as well as statistics on personal expenses from the United States.
Our other trading ideas are sustained: we are looking for points for sales of the Russian ruble and the Japanese yen against the dollar. By the way, yesterday the yen paired with the dollar updated the minimum values in 2018. Let's remind, for the second week, we recommend our readers to sell the Japanese yen as a basic trading idea. Motivation - trade wars are reached Japan, resulting in the yen is devalued to reduce the negative consequences of US trade aggression.