23, September 2015

Fundamental analysis

EUR/USD (a 4-hour chart)

The beginning of the week was marked by the US currency growth. The September US Richmond Fed manufacturing index was published, the forecast was 4 against 0, but in fact was -5.

The pair EUR/USD had decreased amid the Germany government bond yields decrease regarding to the US and the UK counterparts. The Germany producer price index fell by 0.5% in August (the forecast was 0.3%). The euro decline can be justified by the France Moody's rating change from "Aa1" to "Aa2" because of the weak economic growth and high public debt.

The pair GBP/USD had finished the trades with the quotations decline amid the Rightmove house prices index weak data. According to the Rightmove portal operator real estate brokerage, the UK initial housing prices increased by 0.9% (2.55 thousand pounds) - up to 294.834 thousand pounds in September 2015. The dollar strengthened against the pound and the pair continues its decline.

The pair USD JPY had increased amid the "risky assets" demand in the world. Japanese banks were closed due to the national holidays. There are holidays from Monday to Wednesday in Japan. The yen trend is in line with the stock market growth, still the Bank of Japan investors will unlikely dare to attack the upper limit within the strategic range. However, there was the bearish sentiment predominance in the pair by the end of the day.