25, March 2015

Fundamental analysis

 EUR/USD (a 4-hour chart)

The US dollar has opened the trading week on the minor noteб but showed a different directed trades on the yesterday’s trading - the dollar index basket (USDX) closed the trading day at the mark of 97.17. The pair EUR/USD was again the growth leader still the dollar managed to regain some ground yesterday. The Germany and the US bond yields reduction increased the euro bullish sentiment. We got the CPI from the United States. The PPI and the retail sales negative releases did not allow us to count on the strong data release.

During the day the GBP/USD on the contrary remained under pressure. The British Industry Confederation has reported the production orders reduction due to the "cable" revaluation. At the moment quotations reached the mark of 1.4837, but then there was a rebound in the market. The UK and the US 10-year negative bond yield spread are declining which is a positive factor for the British pound.

In the dispute between bulls and bears the winner was not revealed during the day. The US secondary market housing sales negative macroeconomic statistics encouraged bears to short. However, the US stock market growth held back the yen from the strong growth.