EUR/USD Fundamental analysis
The EUR/USD remained under pressure amid negative macroeconomic statistics from Germany. The ZEW index has fallen to the level of 8.6, showing the lowest rate since December 2012. The geopolitical tensions due to the political crisis in Ukraine have a negative impact on the euro-zone economy business climate. Against this background, the bearish sentiment was dominated in the first half of the day and at the moment quotes dropped to the level of 1.3335. However, to overcome the support level of 1.3332 the bears could not and there was a technical rebound at the American trading session.
The day before GBP/USD market participants took profits on short positions after the 5-week downward trend. The cross-rate euro/pound decrease against the weak Germany statistics background supported the moderate demand for the British currency as well. As the result the GBP/USD gained 0.15%.
The bearish sentiment on the world's leading stock markets did not allow USD/JPY bulls to continue the upward trend. In the absence of interesting releases traders took a wait before the Japan's GDP publication for the 2nd quarter.