Fundamental analysis for May 19, 2015

May 19, 2015

The US dollar was supported - the dollar index basket (USX) finished the trading day at the mark of 93.29. The pair EUR/USD increased after the US industrial production and consumer confidence weak macroeconomic statistics publication from the University of Michigan. At the end of the day the pair decreased.

The pair GBP/USD finished the trading day in the negative territory - quotations declined amid the profit taking on the long positions after the eight- days’ quotations growth.

The winner in the bears and the bulls’ dispute within the pair USD/JPY were the bulls. The upward trend in the world leading stock markets is supported by the dollar demand and at the moment quotations reached the mark of 119.95, but after the US negative reports the Japanese yen was able to recover lost ground. Then the pair grew again.

Taking into account the US industrial production and consumer confidence negative macroeconomic statistics– we cannot count on the US dollar strong growth.

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