Fort Financial Services - Analytics

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    Fundamental analysis

    EUR/USD (a 4-hour chart)

    Yesterday the pair EUR/USD grew amid the Greece government statement that Athens wish to remain in the Eurozone. It was noted that Athens promised to implement measures in the field of taxes and pensions at the beginning of the next week. The Old World banking sector was among the growth leaders that indicated the financial risks "degree" decline. However the pair fell by the end of the trades.

    By the end of the day the pair GBP/USD had again decreased. The British pound is still under pressure amid the bearish trend in the "black gold" market.

    The pair USD/JPY was growing but it decreased by the end of the day amid the Chinese stock market panic sales which spilled over into the rest of the Asian equity markets. Investors went into "safe assets" which has traditionally been the Japanese yen.

    There was the US Department Energy release published that indicates the oil and oil products increase which will contribute to partial short positions profit taking in the "black gold" market.

    The unemployed number for the first time has risen from 282,000 to 297,000, the forecast was 275,000 according to the published US release.

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