14, May 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

Dollar slightly lost some positions against the pound, still it grew against the yen and closed neutral against the euro. Obviously, the wave of emotions created by M. Draghi’s statements was completely exhausted and the weak news background gave new guidelines for trading and this supported the short-term investors. We have more news that suggest positive changes, but it seems that the dollar will get the only short-term support. The optimism indicator in small business from NFIB in April rose to 94.6 from 93.4 previously, the retail sales increased by 0.5% m/m after +1.1 % m/m in March, and inventories in warehouses in March grew by 0.4 % m / m.

The trading was calm enough amid the lack of important macroeconomic publications from the leading world powers. Investors decided to partially take profits on short positions, but in the absence of demand for the euro the price growth was limited by the resistance.

GBP/USD has gained weight by 0.15 % amid the cross-rate euro/pound lowering which set the fresh this year minimum. This factor supported the demand for the "cable" against the U.S. dollar.

"Bulls" bought USD/JPY in the light of the global stock market demand. The major stock indicators showed positive dynamics that cheered investors to open long positions. The Japan's balance of payment for March came out much worse than median prognosis which also acted as a negative factor for the Japanese currency.