09, February 2015

Fundamental analysis

EUR/USD (a 4-hour chart)

The pair EUR/USD has shown the quotations steady growth amid the US negative macroeconomic statistics last week. The trade balance release disappointed traders with the weak data – the trade deficit was 46.56 billion dollars in December. The dollar revaluation has a negative impact on exporters and we can expect the negative dynamics continuation in January. Against this background, traders are actively building up euro long positions that allowed the price increase. Nevertheless the pair fell amid the US labor market report.

The pair GBP/USD was not also far behind its "elder brother" – the pair also fell after the increase. Earlier the UK 10-year bond yields rose against its major competitors – the US Treasuries and German bond yields.

The pair USD/JPY sharply grew at the end of the last year. Earlier the pair dollar/yen is gripped between the 117th and the 118th figures. On the one hand, the US negative macroeconomic statistics intensifies the dollar correction movement which plays into the bears hands. On the other hand, the growth in world stock markets draws more and more bulls’ attention.