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Fundamental Analysis
August 162018
EUR/USD Recovers as Market Sentiment Improves, US Manufacturing Slows
EUR/USD rebounded today, extending its recovery, amid improving market sentiment. Market participants became a bit more optimistic due to the news about Qatar investing in Turkey and renewed trade talks between the United States and China. US macroeconomic data, being rather unimpressive, did not prevent the rally of the currency pair. The Philly Fed manufacturing index was especially disappointing. Housing starts and building permits rose a bit in July. […]
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August 152018
EUR/USD Recovers After Touching 13-Month Low
EUR/USD dropped intraday on Wednesday as the euro touched the lowest level in more than a year. By the end of Wednesday’s trading, though, the currency pair managed to recover, staying near the opening level. There were plenty of US economic reported released over the trading session. Retail sales rose 0.5% in July, seasonally adjusted, exceeding the median forecast of a 0.1% increase. The previous month’s increase got a negative revision from 0.5% to 0.2%. (Event […]
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August 102018
US Sanctions on Turkey Drive EUR/USD Down
EUR/USD dropped to the lowest level in a year today on concerns that the negative impact of US sanctions against Turkey can spill over to the European banking system, which has strong exposure to Turkish assets. Positive US inflation data also weighed on the currency pair. US CPI rose 0.2% in July on a seasonally adjusted basis, in line with expectations. Consumer inflation accelerated a bit from June’s 0.1%. (Event A on the chart.) Treasury […]
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August 92018
EUR/USD Falls Despite US PPI Missing Forecasts
EUR/USD declined today even as US producer inflation missed expectations. Consumer inflation data will be released tomorrow, and if it fails to meet expectations as well, that would bode ill for the US currency. PPI showed no change in July, whereas experts had predicted an increase by 0.2%. The index rose 0.3% in June. (Event A on the chart.) Initial jobless claims were at 213k last week, down from the previous […]
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August 82018
EUR/USD Consolidates amid Light Macroeconomic Data
EUR/USD consolidated today, looking for direction. The current session was light in terms of macroeconomic data in the United States, providing no help for the currency pair in determining its next move. US crude oil inventories decreased by 1.4 million barrels last week, two times less than the market has anticipated — 2.8 million. The stockpiles increased by 3.8 million barrels the week before. At the same time, total motor gasoline inventories […]
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August 32018
EUR/USD Volatile After NFP, Stabilizes Above Opening Level
US nonfarm payrolls released today were mixed, with disappointing employment growth but solid wage inflation and falling unemployment rate. EUR/USD jumped immediately after the release, but slumped afterwards before stabilizing above the opening level. Other macroeconomic reports released in the United States today were not good either, showing a widening trade balance deficit and slowing growth of the services sector. Nonfarm payrolls rose by 159k […]
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August 32018
EUR/USD Volatile After NFP, Stabilizes Above Opening Level
US nonfarm payrolls released today were mixed, with disappointing employment growth but solid wage inflation and falling unemployment rate. EUR/USD jumped immediately after the release, but slumped afterwards before stabilizing above the opening level. Other macroeconomic reports released in the United States today were not good either, showing a widening trade balance deficit and slowing growth of the services sector. Nonfarm payrolls rose by 159k […]
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August 22018
EUR/USD Declines As US-China Trade Conflict Escalates
EUR/USD declined on the reports that the trade war between the United States and China continued to escalate as the USA considered additional tariffs on Chinese imports. As for US macroeconomic reports, there were just two of them today, and both were within expectations. Initial jobless claims were at the seasonally adjusted rate of 218k last week, just marginally above the previous week’s level of 217k. That is compared to the median forecast of 220k. (Event […]
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August 22018
EUR/USD Declines As US-China Trade Conflict Escalates
EUR/USD declined on the reports that the trade war between the United States and China continued to escalate as the USA considered additional tariffs on Chinese imports. As for US macroeconomic reports, there were just two of them today, and both were within expectations. Initial jobless claims were at the seasonally adjusted rate of 218k last week, just marginally above the previous week’s level of 217k. That is compared to the median forecast of 220k. (Event […]
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August 12018
EUR/USD Drops, Pays Little Attention to FOMC Policy Announcement
EUR/USD was falling on Wednesday even as most US macroeconomic reports were underwhelming (with the notable exception of employment data). The policy meeting of the Federal Open Market Committee was in focus today, but in reality its impact on the market was limited. While traders did not expect any changes for monetary policy, they were looking for the statement to provide more clues about the FOMC plans. But the statement had not […]
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