Fort Financial Services - Analytics

    Fort Financial Services

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    Fundamental analysis

    EUR/USD (a 4-hour chart)

    At the end of the last week the US dollar was able to recoup some lost positions - the dollar index basket (USDX) finished the trading day at the mark of 95.45. By the end of the day the pair EUR/USD had decreased amid the longs profit taking after the US jobless claims positive report. After the US report the Germany and the US negative bond yields showed a reversal which also points to the bearish sentiment prevalence for the euro. The Non-Farm showed 228K as a result the dollar strengthened.

    On the contrary, the pair GBP/USD had increased amid the pair EUR/GBP quotations increase which contributed to demand for the British pound.

    The pair USD/JPY had strengthened. The US stock market sales restrained bulls from the large number of long positions opening. The pair dynamics was affected by the Non-Farm report.

     

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