16, April 2015

Fundamental analysis

Fundamental analysis

The US dollar was under pressure - the dollar index basket (USDX) finished the trading day at the mark of 98.83. During the day the pair EUR/USD was in demand amid the euro area the February industrial production positive release as well as the US retail sales moderately negative data. There was a high volatility in the pair’s trades amid the M. Draghi’s press-conference. By the end of the day the pair euro/dollar had increased.

The UK March inflation release has not confirmed the Bank of England fears – there was not observed deflation in the UK and against this background traders continued to take profits on the short positions during the day. By the end of the day the pair GBP/USD had increased.

During the day the Japanese yen also enjoyed steady demand - after the US retail sales moderately negative data for March traders actively increased "shorts". By the end of the day the pair USD/JPY had decreased.

According to the March release, the US producer price index excluding the food, energy and trade prices grew by + 0.8% on the annual basis compared with the previous period when the index value rose up by 0.7%.