Fort Financial Services - Analytics

    Fort Financial Services

    555.50 6.75/10
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    Fundamental analysis

    EUR/USD (a 4-hour chart)

    By the end of the day the pair EUR / USD had increased amid the long positions profit taking before ECB meeting. After another Chinese stock market collapse traders spread the rumors that the American central bank would not still raise interest rates. After the meeting results it was expected to hear something about new external risks to the US economy which would lead to the immediate dollar sales and the pair EUR / USD growth.

    As a result the last ECB meeting confirmed its plans to change the rates this year that supported the dollar.

    The pair GBP / USD had increased as well after the UK second quarter GDP publication. The final index is above the level of 0.7%.

    During the day the pair USD / JPY was growing. On the one hand, "bulls" were supported by the “risky assets" demand. On the other hand, the Conference Board consumer confidence weak data put pressure on the US currency.

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