21, August 2015

Fundamental analysis

EUR/USD (a 4-hour chart)

The Fed minutes put pressure on the US dollar. The dollar was sold against all of its major opponents which led to its decrease at the end of the day. The meeting minutes have not convinced investors that interest rates increase would be in September. The protocol content that noted fears, concerning the dollar growth, can have a negative impact on the inflation, an economic growth and foreign trade; it has significantly increased the doubts that the Fed will have to tighten policy in the short term. However, the pressure on the dollar was moderate. Investors focused their attention on the number of initial jobless claims week data which was expected with slight reduction up to 272 thousand from 274 thousand. In fact the jobless claims number increased by 4 thousand to 277 thousand.

The pair EUR/USD had strengthened after the US inflation moderately negative data. The July base rate remained at the level of 1.8%, still traders had expected it at the level of 1.9%.

By the end of the day the pair GBP/USD had symbolically strengthened. The low oil prices held back bulls from the active offensive.

The world leading stock markets sales continued to put pressure on the pair USD/JPY which at the end of the day decreased.