05, January 2015

Fundamental analysis

 EUR/USD (a 4-hour chart)

The euro fell by 54 points against the pound growth by 20 points in the recent trading hours ended in 2014, during the American session. The gold also decreased (-1.45%). The loss of the US stock market by 1,03% (S & P500) is perceived as the profit-taking before the market closure. Of course, we cannot rule out the "Greek syndrome" development, still we have not seen signs of this. The more concern causes the 91-year-old King of Saudi Arabia Abdullah bin Abdul-Aziz Al Saud hospitalization with the recurrent herniated discs. The king got to hospital on December 31, the Saudi TASI stock market exchange fell by 1.81%. The oil will likely increase that will cause the majors’ growth. The dollar grew against the majors at the Friday trades.

The market began to work, holidays continued in Japan and Switzerland. In general, the macroeconomic statistics expectations are on the euro side. We expect a sharp December decline in the number of unemployed in Spain- by 72 thousand after decrease by 14.7 thousand. In November (PMI) the Spain manufacturing sector PMI is expected with increase from 54.7 to 54,9, the Italy PMI is expected to grow from 49.0 to 49.6. The UK PMI index is also expected with increase - 53.7 against 53.5 in November. In England, there can be only a slight decrease in population crediting – The November granted credits volume is expected to be 2.5 billion pounds against 2.6 billion pounds in October.

The US manufacturing sector business activity for December is expected to decline from 58.7 to 57.6, the paid prices index in the US manufacturing sector is expected to decline from 44.5 to 43.1. The construction spending forecast for November was 0.4% compared to 1.1% in October.