04.09.2014 EUR/USD FUNDAMENTAL ANALYSIS The American currency has strengthened its position against its main competitors - the dollar index basket (USDX) closed the trading day around 82.99, the first time since July 2013. However, the EUR/USD has been in a horizontal flat for the third trading day in a row, despite the United States positive macroeconomic data. The traders do not hurry to open positions before the European monetary control meeting and against this background we observe the range trading. The GBP/USD has ignored the UK strong construction sector business activity release and tested the 65 figure after the ISM manufacturing sphere positive data publication. The ISM index came in at 59 which is the highest level since April 2011. This release supports the positive forecast for the 3rd quarter in the United States economy and against the UK manufacturing sector weakness we observed the massive pound sell-off along the entire market. The bulls were able to take the 105 figure on the USD/JPY. We observed the large number of the activated stop orders in the Asian session which brought the pair to the strong level of 104.80. However, we did not see the stop amid a corporate bonds strong demand in the Japanese stock market so the growth was continued amid the United States manufacturing sector business activity positive macroeconomic statistics release. The pair slightly fell at the end of the trading day.
Posted on: Thu, 04 Sep 2014 07:30:07 +0000
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