18, September 2015

Fundamental analysis

EUR/USD (a 4-hour chart)

The US dollar has fallen to the three weeks minimum against the most major currencies. The US economic data turned out to be weaker than expected. The Federal Reserve did not raise interest rates at the September meeting.

According to the US Labor Department the initial jobless claims number became less than 11 thousand having fallen to 264 thousand.

The EUR/USD has increased amid the oil quotations growth after the US crude oil stockpiles positive publication. Last week stocks fell slightly by more than 2 million barrels which supported the demand for the “black gold".

The pair GBP/USD had increased by the end of the day. The pound has significantly strengthened against the US dollar, having offset all positions that had been lost the other day. The currency was supported by the UK labor market strong data. As it became known, the UK workers’ average earnings (excluding bonuses) have significantly increased for three months (to July), having registered the highest rates for more than six years.

The pair USD/JPY had grown. The yen has significantly decreased against the US dollar, having reached the minimum at the same time. The news that the Economic Cooperation and Development Organization has revised the world economic growth forecast over the next 2 years put pressure on the yen. However the pair decreased after the Fed’s meeting results publication.