27, June 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The U.S. currency lost some ground against its major rivals, the dollar index DXY basket finished trading at around 80.19. U.S. Department of Commerce has reported a significant decline in orders for durable goods in May and it's all happening on rising consumer confidence. The Final U.S. GDP for the 1st quarter struck another blow to dollar - an indicator went much worse than the forecast was, showing a decline to the level of - 2.9% qoq. Immediately after the publication the euro/dollar showed bullish sentiment.

The GBP/USD has been under the pressure the whole week. Investors close long positions after the significant strengthening of the British currency. The internal conditions also did not contribute to the "bullish" sentiment - the retail sales release according to the Confederation of British industrialists showed in June the greatest reduction in the last 6 months, which is the first alarm signal.

USD/JPY is still trading in a "sideways" in the absence of a strong news background prefers to copy the dynamics of trading in the stock markets of Japan and the United States. The sharp slowdown in orders for durable goods in the U.S. in May furthered the dollar weakening.