16, November 2015

Fundamental analysis

Fundamental analysis

The European and the US economic releases alongside with the monetary authority’s comments caused a vivid dynamics for the major pairs. The Eurozone and the region countries published the third quarter GDP data. The Europe has published the trade balance report. Besides the US minor release, players have paid their attention to the retail sales where the monthly indicator increase was expected.

The main blow to the euro came from the ECB President M. Draghi who "promised" to revise the buying assets program in December, having noted the inflationary risks weakening due to the single currency recent strengthening. Another reason for the sales was the euro zone industrial production weak data which fell by 0.3% in September against the expectations by -0.1%.

The pair EUR/GBP declined amid the euro widespread sales contributed to the GBP/USD quotations recovery after a decrease. In the absence of the UK releases the pair focused on the dollar rate behavior.

The pair USD/JPY experienced a lack of growth dynamics. The trades were little revived after the Fed speech, which have not made significant corrections to the market expectations, although it slightly undermined the dollar positions which calculated on the aggressive statements.