24, June 2015

Fundamental analysis

 EUR/USD (a 4-hour chart)

The EUR/USD lost some ground after the long positions profit taking. The final decision on Greece has not adopted yet and traders are in no hurry to long.

The GBP/USD fell as well amid the UK government bonds yields falling in relation to their counterparts from the US and Germany.

The pair USD/JPY grew which caused the carry trade transactions opening.

They reported that the Greece government has submitted new proposals that include significant concessions related to the deficit reduction and pension reform. That news supported the euro as prompted the market to believe that the negotiations with the Athens creditors can get the ball rolling and finish with positive solutions. There were also reports on the euro side that the European Central Bank increased the emergency funding amount to the Greece banks. However, the warnings from the euro area members that the immediate breakthrough in the negotiation is unlikely to happen soon changed the investors' sentiment.