Fundamental analysis for February 09, 2016

February 9, 2016

All traders' attention was directed to the USA labor market statistics. Despite the fact that the NFP has not reached even to a modest forecast (it showed 151 000 versus the forecast of 190 000), and the previous value was revised downward, the dollar was able to consolidate its positions. However on Monday the trades were differentdirected.

The US Average Hourly Earnings showed a strong jump of 0.5% from the previous 0.0%. Meanwhile, the unemployment rate reached a cyclical low level of 4.9%, having fallen unexpectedly by 5.0%. The wages growth rate is crucial for the Fed, pointing to the inflation acceleration prospects that is why the dollar ignored the weak NFP and focused on the Hourly Earnings results. The EU did not present any significant data. By the end of the trades the pair euro/dollar slightly increased.

The Friday's labor market release contributed to the US and UK government bond yield spreads expansion which is traditionally a bearish factor for the British currency. On the other hand, the oil market bulls prefer to long which in its turn positively affects the pound value. However the pair point/dollar rebounded upwards after a decrease.

The Monetary Policy Meeting minutes will be published on February 18th. Meanwhile according to the Bank of Japan chairman the volatility in the world markets have a negative impact on business sentiment. The pair dollar/yen sharply fell.

Publication source
Fort Financial Services information  Fort Financial Services reviews

January 20, 2017
The dollar has settled moderately lower
Asian stock markets were mixed overnight, after U.S. and European shares closed in the red Thursday. Japan and mainland China bourses managed to move higher (Chinese GDP beat expectations at 6.8%)...
January 20, 2017
A huge disappointment in the UK data
UK retail sales fell most since 2012. We see he fastest pace of decline in almost five years in December. It is due to sales of... pretty much everything from household goods to clothing and food...
January 20, 2017
Trump takes office today. Markets await inauguration speech
Investors await Trump's inauguration and speech due later today as he takes office as the 45th President of the United States. The U.S. dollar was seen giving up some of the gains yesterday with some volatility coming off the EURUSD on the back of the ECB meeting...

OANDA Rating
EXNESS Rating
FXCM Rating
FBS Rating
XTB Rating
Orbex Rating

Beeoptions Rating
Empire Option Rating
IQ Option Rating
OptionBit Rating
First Binary Option Service Rating
365BinaryOption Rating