EUR/USD Fundamental analysis
The dollar has completed a steady growth against its major rivals. The dollar index DXY basket closed at 81.04. The EUR/USD remained under pressure amid the negative macroeconomic statistics from the IFO institute. The July business climate indicator in Germany fell to the level of 108 which is the lowest for the last 8 months. The U.S. States presented a pleasant surprise to the traders - durable goods order volume data exceeded the forecasted medians which confirms the steady upward economy trend.
The "Bearish" sentiment prevailed on the GBP/USD. The UK GDP release came out at the consensus forecast of 0.8% which was not able to support the demand for the pound. The investors expect a faster growth in the second quarter and as this has not happened - the "bulls" had to stay away from long positions opening. The euro/pound cross-course decrease held the bears’ attacks.
The USD/JPY has ended the trading day within a narrow flat. Japan published the inflation data which went on 0.1% better than forecasted median. The oil price rise in June would not let loose the consumer price index. Nevertheless, the Japanese currency has ignored this release and we saw the pair’s symbolic fall.