25, June 2015

Fundamental analysis

EUR/USD (a 4-hour chart)

There has been an increased demand for the American currency - the dollar index basket USDX finished the trading day at around 95.61.

The EUR/USD is in the "red zone" the third day in a row. Traders ignored the positive macroeconomic statistics from the euro area, showing the lack of interest to the euro. Only by the end of the day the pair slightly increased.

The GBP/USD lost some ground against the UK and the US government bonds negative differential expansion.

The USD/JPY ended the day in the "green zone". The new wave of carry trade deals against the demand for risky assets continued to put pressure on the Japanese yen.

There was a faint hope that Greece found a common language with creditors in respect of the country's next financial aid terms. After the Greek Government showed new proposals at the weekend new investors hoped that Greece did sign an agreement with the international lenders. The sources from the EU reported that Greece's new proposal is ambitious, still they need to solve the pensions and VAT issues. As we know Greece could not come to an agreement with creditors. So the optimism that was in the week beginning – vanished.