02, April 2015

Fundamental analysis

Fundamental analysis

We had a multidirectional trend in the Forex market yesterday. At the end of the day the pair EUR/USD has grown amid the energy prices decline and the USA statistics releases. Bears continue to monitor the situation in the oil market that supports the US dollar demand. Even the euro area inflation positive release in March failed to encourage bulls to long with euro.


On the contrary, the pair GBP / USD enjoyed a steady demand during the day amid the UK bond yields increase. The UK GDP final data came out better than the forecasted medians which contributed to the British pound growth against the major competitors. Still the pair GBP/USD had fallen, but increased at the end of the trades.


The Japan fiscal year completion supported the demand for the national currency. The carry trade transactions withdrawal cheered bears to short and even the US consumer confidence positive release from the Conference Board was unable to change the USD/JPY trend.