25, August 2015

Fundamental analysis

 EUR/USD (a 4-hour chart)

The market is more and more confident that the policy tightening is not to be in September, but, moreover, it will happen in December or even in the early 2016. It caused the US dollar decline by more than 150 points against the euro and about 140 points against the yen. The pound neither decreased nor increased against the US dollar and neutrally closed the trade on the opening prices.

Yesterday by the end of the day the pair EUR/USD had strengthened amid the German government bonds yields relative to their US and the UK counterparts. The euro bulls can be supported by the euro area economic data, presented by the manufacturing and the European bloc service sectors activity index preliminary estimates.

The pair GBP/USD was in a flat of 1.5670 -1.5715 amid the oil market "bearish" sentiment. The UK economic data have shown the state finances improvement. The pair increased by the end of the trades.

The Japanese stock market decline put pressure on the pair USD/JPY which by the end of the day had decreased. In addition, the yen growth was supported by the US stock market decline and the US "treasuries" decrease.