17, April 2015

Fundamental analysis

EUR/USD (a 4-hour chart)

The US dollar was again under pressure - the dollar index basket (USDX) finished the trading day at the mark of 98.47. During the day the pair EUR/USD enjoyed the demand amid the moderately positive comments by the ECB President Mario Draghi about the European economy current state and amid the energy cost increase. By the end of the day the pair euro/dollar had increased.

Both the UK and the US 10-year negative bond yields reduction with the oil quotations growth amid the US stocks reduction contributed to the bullish sentiment within the pair GBP/USD which by the end of the day had increased.

The pair USD/JPY has finished the trades in the negative territory for the fourth consecutive trading day. The basic commodity assets quotations growth was supported only the US dollar and against this background, the pair dollar/yen had decreased by the end of the day.

The United States published the March building permits number – the data came out worse then forecasted medians – 926 000. We expected the data output better than the consensus-forecast 1,24 millions. The USA jobless claims number increased by 12 thousand. up to 294 thousand last week.