12, January 2015

Fundamental analysis

EUR/USD (a 4-hour chart)

The US dollar has suspended its winning streak. The pair EUR/USD corrected the Germany industry orders release. In November the indicator declined by 2.4%, indicating the leading euro-zone economy industrial production decline. Against this background, at the moment the pair euro/dollar reached the mark of 1.1753, after which we observed the technical rebound.

The pair GBP/USD showed a decline to the level of 1.5033 where the bears took profits on the short positions. At the end of the week the pair grew up. The Bank of England left unchanged monetary policy. However, traders did not expect any changes. It is also worth noting that many financial institutions begin to doubt that the monetary control will raise interest rates this year.

Strong growth in the US stock market encouraged the bears for long positions opening within the pair USD/JPY. We received a jobless claims that was worse than traders had expected, nevertheless the data showed a decline compared to the previous period. The Nasdaq index was the growth leader on the US stock market, indicating strong demand for risky assets.