28, July 2015

Fundamental analysis

EUR/USD (a 4-hour chart)

The US dollar was not able to strengthen its position against its main competitors - the dollar index basket (USDX) closed the trading day at the mark of 96.56.

The pair EUR/USD had decreased despite the France and Germany PMI manufacturing and production sector negative macroeconomic statistics. Nevertheless the pair grew by the end of the day.

The pair GBP/USD was trading within the flat amid the UK bond yields decrease in relation to their US and Germany counterparts as well as the US new home sales weak data. However the pair increased on the yesterday’s trades.

The pair USD/JPY was trading in a flat amid the lack of demand for the "risky assets" as well as the US negative macroeconomic statistics. Nevertheless, the pair increased yesterday.

The US new housing market sales publication did not meet our forecasts: the transactions number amounted to only 482 thousand in June against the expected 546 million and 517 million in May. It has played the role of counterweight within the pair EUR/USD that put pressure not on the euro, but on the US dollar as well.