18, March 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

On the last trading day of the last week, the U.S. dollar had weakened versus its major counterparts. The EUR/USD increased by 0.3% on a daily basis due to the weak macroeconomic statistics from the United States. The Institute of Michigan consumer confidence data in March just disappointed the "bears", showing the decline to the level of 79.9.

The pair GBP/USD put on weight by 0.15 %, despite the weak UK trade balance release. The negative balance in January increased to 9.79 billion pounds, which is significantly worse than the market expectations. As a result, the British currency quotes fell down.

The USD/JPY pair has been declining throughout the day in the light of the geopolitical instability. In the first half of the day in the light of the lack of interesting reports from Japan – the investors closely monitored the trading on stock exchanges dynamo. The futures of the Nikkei 225 sales got “bears” in the stock. In the afternoon the States released the producer price index and consumer confidence data from the Institute of Michigan. Both reports came out worse than the median forecasts, which only increased the U.S. dollar sales versus the Japanese yen.