Fort Financial Services - Analytics

    Fort Financial Services

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    Fundamental analysis

    EUR/USD (a 4-hour chart)

    The US dollar was under pressure last Friday, as concerns about the global economic outlook caused a fall of stock markets. The demand for the safe-haven assets: the yen and the euro, have been increased. Chinese market was closed due to the Chinese New Year celebration.

    Japanese Finance Minister made it clear to investors that the rapid Japanese yen growth could lead to the regulator’s intervention. If necessary, the bank will take all the necessary measures to limit the yen’s growth. According to Aso: the exchange rate has been recently showing quite sharp fluctuations that differ from the BoJ’s financial policy.

    According to Eurostat the Eurozone GDP (q/q) remained at the same level of 0.3%.

    The US retail sales report for January was published on Friday. The forecast was 0.1%, the index came in at 0.2%. The Michigan University Consumer Confidence Index for February (in the preliminary estimate) was expected with a growth by 92.6 from 92.0 in January. The index came in less than it was expected having shown 90.7.

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