04, April 2016

Fundamental analysis

EUR/USD (a 4-hour chart)

The dollar is still under pressure. In general, traders continued to get rid of the American currency after the recent soft comments by Janet Yellen who did not exclude a return to the economy stimulus. The NFP became one of the main events last week. The indicator showed 215,000, the forecast was 205,000, after a growth by 242,000 in February. The USA also published Unemployment Rate for March that came in at the level of 5.0%. The previous value was 4.9%, m / m, the forecast was 4.9%.

German Retail Sales report was a contradictory one. Even though it showed a drop of 0.4% on a monthly basis, it grew on annual basis by 5.4%. Unemployment Rate in Germany in March remained unchanged- 6.2%. Unemployment Change came in at 0. Manufacturing PMI in Germany for March showed 50.7 with a forecast of 50.4. Consumer Price Index in the European Union lost 0.1% in annual terms, which point out the presence of deflation in the European Region. Despite a mixed macroeconomic statistics from the EU, investors interpreted it as a positive sign. The pair euro/dollar closed the trades with a slight growth.

The United Kingdom published the Manufacturing PMI for March that came in at the level of 51.0 (the previous value was 50.8, the forecast was 51.3). The pair pound/dollar decreased.

Japan published the Tankan Non - Manufacturing index for the 1st quarter: the index fell to 22 from 25. Tankan Large Manufacturing Index for the 1st quarter showed a decrease from 12 to 6. The pair dollar/yen fell by the end of the trades.