09, October 2015

Fundamental analysis

Fundamental analysis

The US currency tried to strengthen against its major competitors – the dollar index basket (USDX) closed the trades at the mark of 95.65. Investors' attention is directed to the US Labor Ministry jobless claims weekly report. The forecast was 274K vs. 277K the previous week. The index showed 263K.

By the end of the day the pair EUR/USD had increased amid the Germany and the US government bond yields increase. The Germany industrial production negative indicators were published and left the euro no chance for the expected correction continuation. The August German Industrial Production fell by 1.2% against the growth expectations by 0.3%. During the day, the pair showed mixed trading, maintaining the upward movement.

The pair GBP/USD had increased amid the August UK industrial production strong data. The UK macroeconomic indicators were even better than expected and the British pound continued to rise. Industrial production showed growth by 1.0% vs. 0.3%. Investors are studying the Bank of England last meeting minutes. Mr. Carney said that inflation remains below 1% until the spring of 2016. The pound/dollar continues to show north course.

The pair USD/JPY closed the trading day with the quotations decrease amid the demand increase for the "risky assets". The foreign markets power and the Bank of England neutral rhetoric are not sufficient for the USD/JPY growth when the Japanese economic indicators decline. The own negative Japanese data turned out to be stronger. The pair is in flat, against a background of weak southern movement.