25, June 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The first part of the week was inert for EUR/USD, it was marked by a low activity and trading in a range. In the Asian session, the dollar was sold slowly against all majors after the strong data from China publication that had supported the risk appetite.

Sales in the secondary housing market in the United States continued to rise in May, the second consecutive month, surpassing expectations, indicating that the acceleration of the recovery of the American housing market. The euro changed little after the market saw business activity in France and Germany which came weaker than expected. Activity in the manufacturing sector fell in France to 6-month low, while in the eurozone - to 7-month.

The British pound like the euro strengthened at first and then fell against the dollar. The pair finished the day on opening prices. There was not much news from the UK. We can only highlight the Bank of England lending report.

The British regulator noticed that investment companies are recoverying having increased the demand for loans. He believes their prospects are optimistic and expect a further increase in demand for loans. The market ignored the positive economic statistics in a public sector borrowing Britain.