10, April 2015

Fundamental analysis

Fundamental analysis

There was a multidirectional trend in the Forex market. The pair EUR/USD has closed the day in the "red zone" where it has been the third consecutive trading day amid the German 10-year bond yields which have fallen to the historic lows. As a result, the trading day was ended with the price decrease.

The pair GBP/USD has finished the third trading day in a negative area as well. Traders opened short positions at the attractive levels and the price reached the level of 1.47 at the end of the day.  In the long term we expect all lower levels reaching and the stabilization at around 1.30, the major turning point for the pair will be the May elections due to the expectations that the Bank of England will raise the rates after the Federal Government will make the expected movement.

The pair USD/JPY grew at the end of the day. The Bank of Japan announced the monetary policy two-day meeting results which indicate that the monetary regulator expects the economic growth recovery in the medium term. In the light of this traders closed short positions that supported the demand for the dollar.