EUR/USD Fundamental analysis
The pair EUR/USD is in the flat. The 10-year German and U.S. bonds yields cheered bears to enter the market. At the moment the price reached the level 1.3350, but then there was a technical rebound and profit taking on short positions. The traders ignored the positive U.S. trade balance for June.
The UK industrial production release disappointed investors. The index rose by 0.3% in June that is the same amount than the forecast was. Some Wall Street economists were quick to associate it with a strong pound consolidation in the first month of summer, as well as the increase of problems with the main trading partner of the United Kingdom - the Eurozone. In this regard, the pair came under a wave of sales and only after the European trading session closure managed to recover some lost ground.
The bears' triumph on the world's leading stock market is still putting pressure on the pair USD/JPY. The sell-off caused a demand for a safe haven in the face of the Japanese yen. Even a positive trade balance release in the U.S. in June was unable to provide support for the bulls on Wednesday. In the light of this, the dollar/yen showed a decline of 0.5%.