29, April 2016

Fundamental analysis

EUR/USD (a 4-hour chart)

The Eurozone published the inflation report for Germany (0,2%) and Economic Sentiment Indicator (103,9). In addition, Germany published Unemployment Rate which remained unchanged at 6.2% (in line with the forecasts). Unemployment Change showed -16K.

The UK published Nationwide Housing Prices for April (on a monthly and annual basis). The index showed 0.2% m/m after the previous 0.8% m/m.

The US GDP for the 1st quarter became the main event of the day (the 1st assessment). The index came in at 0.5%, the forecast was 0.7% vs. 1.4% in the 4th quarter. Initial Jobless Claims showed 257K (the previous value was 247K, the forecast was 260K).

The Bank of Japan did not change its monetary policy and did not extend the stimulus rate. The Central Bank is still focused on the increase in the monetary base by 80 trillion yen per year, the deposit rate remained unchanged at - 0.1%.