FX.co ★ Trading plan for 12/09/2017

Today, focus will be on the UK's inflation, where it should accelerate from 2.6% to 2.8%. This in itself is already good for the pound. But it is much more important that a steady rise in inflation can lead to an increase in the number of supporters of raising the refinancing rate in the BOE. At the last meeting, only two votes were cast for tightening monetary policy. If inflation forecasts are confirmed, then this time there could be three. This alignment will lead to a further strengthening of the pound.

In the second half of the day, there will be data on job vacancies in the US, the number of which may decrease from 6,163 thousand to 5,960 thousand. Despite the fact that the reduction in the number of open vacancies indicates that people have found a new job, places in the labor market is still perceived as negative. Therefore, for today, the dollar has few reasons for optimism.

The euro/dollar pair will grow by the number of open vacancies, most likely we will return to the psychological level of 1.2000, where we form a stagnation of 1,199/1,2025.

In the event of a confirmation of inflation forecasts, the pound/dollar pair has every chance of growth towards 1.3250, pushing us to the ceiling of the range level of 1.3200/1.3250. Otherwise, bears will try to form an accumulation in the region of 1.3150, thus increasing short positions.