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Fundamental Analysis
May 262017
EUR/USD Extends Move Down Following Positive Revision of US GDP
EUR/USD was falling today and extended its decline following the upward revision of US gross domestic product. While the currency pair halted the drop for now, it is too early to tell whether that was just a short pause or a more significant bounce. US GDP rose 1.2% in Q1 2017 according to the second (preliminary) estimate. It was a better reading than 0.9% predicted by analysts and 0.7% showed by the advance […]
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May 242017
EUR/USD Goes Higher After FOMC Minutes
Today, the Federal Open Market Committee released minutes of its latest policy meeting. While the notes were relatively upbeat, hinting at a possibility of an interest rate hike in June, EUR/USD moved up, rather than down. It seems markets considered the minutes to be not as hawkish as dollar bulls were hoping for. The weakness that the US housing market was demonstrating in the recent reports was also helping the currency pair. […]
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May 182017
EUR/USD Falls After Four Sessions of Gains
EUR/USD declined today following four consecutive sessions of gains as US economic data released over the current session was surprisingly good for the most part. It allowed the dollar to overcome the impact of US politics. Yet the troubles have not ended yet as Reuters reported that people involved in Donald Trump’s campaign had at least 18 undisclosed contacts with Russians during the Presidential election. That added to controversies surrounding […]
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May 162017
EUR/USD at Highest Since November
EUR/USD rallied today, jumping to the highest level since November. There were plenty of reasons for the rally. Allegations of US President Donald Trump revealing intelligence secrets to Russia caused worries and hurt the appeal of the dollar. US housing data failed to meet expectations, damaging the currency further. Meanwhile, both economic and political news from eurozone were favorable to the euro. EUR/USD halted its rally, though, after US industrial production […]
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May 152017
EUR/USD Goes Higher, Weak US Manufacturing Helps Maintain Momentum
EUR/USD was rising today, and soft manufacturing data from the United States helped the currency pair to continue the rally. With that said, EUR/USD started to move sideways after a while, and the worse-than-predicted report about net foreign purchases did not change that. NY Empire State Index slumped from 5.2 to -1.0 in May. That was a completely unexpected turn of events to analysts who were erroneously counting on an increase […]
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May 112017
EUR/USD Again Fails to Rally
EUR/USD attempted to rally today but was unable to keep gains, similar to its performance during the previous trading session. This time, though, the reason for the decline was clearer. The currency pair dropped as US macroeconomic indicators were unexpectedly good, increasing the appeal of the US dollar to investors. PPI rose 0.5% in April. That was a better reading than a 0.2% increase predicted by analysts, let alone the 0.1% drop registered […]
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May 102017
Trump Sacks FBI Director Comey, EUR/USD Retreats
EUR/USD rallied today but has lost gains by now. The currency pair was unable to hold onto gains even though the dollar was under pressure from the shocking news: US President Donald Trump fired FBI Director Comey. The decision was surprising, shocking, and even somewhat suspicious, considering that Comey was investigating the alleged involvement of Russia into the US Presidential election and the Trump’s victory. The dollar slumped […]
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May 52017
EUR/USD Rebounds After Decent Nonfarm Payrolls
US nonfarm payrolls released during the current trading session were rather good, but that did not prevent EUR/USD from climbing after the release. As a result, the currency pair rebounded after the intraday decline, heading to close just above the opening level. Market analysts speculate that traders paid more attention to the upcoming second round of the French Presidential election this weekend. With polls showing high probability […]
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May 42017
EUR/USD Rallies After French Election Debate
EUR/USD rallied after the French election debate between the two candidates for presidency. Analysts considered that market-favoredEmmanuel Macron emerged as a victor, increasing his chances to become a president after the second round of voting this weekend. Economic data from the eurozone was also helping the currency pair, being good for the most part. US macroeconomic indicators were not bad either, but that did not prevent the euro from […]
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May 32017
EUR/USD Down After Fed & Set of Solid US Indicators
EUR/USD dropped today as US economic indicators were rather solid for the most part, with employment rising in line with expectations and the services sector improving much more than experts had anticipated. The currency pair demonstrated an especially sharp drop after the Federal Open Market Committee decided to keep its monetary policy unchanged and issued a statement that was largely neutral but with some hawkish remarks. ADP […]
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