Fundamental analysis for September 14, 2015

The US currency showed weakness against its major counterparts - the dollar index basket (USDX) finished the trading day at the mark of 95.49. The Labor Department published the initial jobless claims report, the numbers fell by 6,000 and reached 275,000 with the seasonal correction. Economists expected 275,000 initial claims.

The pair EUR/USD increased amid the European stock exchanges decrease. The dollar significantly depreciated against the euro which was caused by the US mixed statistics.

The pair GBP/USD strengthened amid the UK government bond yields relative to their US counterparts. The pound markedly rose against the US dollar, having reached the two-week low at the same time that was caused by the Central Bank of England meeting results and the subsequent statements. As expected, during the meeting the BoE MPC members voted to keep the interest rates at the level of 0.5%. However, the week closed with the pair rebound downwards.

The USD/JPY was in a flat amid the important macroeconomic statistics lack. The yen fell slightly despite the Japanese manufacturing sector large enterprises sentiment positive data.

It's time to sell kiwi
As for New Zealand dollar, we have a broken ascending channel, which has been already tested once by a currency pair. Let’s try to sell an asset for a second time away from this broken channel...
Australian CPI much weaker than expected
Most Asian stock markets are down on the day, disappointing earning results added to Yen strength weighed on Japanese markets. Oil prices are higher and the front end WTI future is comfortably above USD 44 per barrel...
Best Wishes from XM
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