Fundamental analysis for March 04, 2016

March 4, 2016

The United States published Initial Jobless Claims (278000 against the forecasted 271000) and Non-Manufacturing PMI for February (the data came in at the level of 53.4 the previous value was 53.5, the forecast was 53.2). Today traders' attention will be focused on NFP.

The differential yields on US and German government bonds reduced, which increased the investment attractiveness in European assets. This in return would support the demand for euro. On the other hand, the risk "assets" are still in demand in the financial markets, which is a negative factor for the euro as a funding currency. By the end of the trades the pair euro/dollar showed a strong growth.

The UK published Services PMI from Markit for February. The release came in at the level of 52.7, the previous value was 55.6, the forecast was 55.1. Firstly, the GDP grew by 0.65%, with an overall economic growth of 0.5% in the services sector in the fourth quarter of 2015. Secondly, the labor market positive dynamics shall increase optimism among purchasing managers in this sector. The pair pond/dollar increased.

The published APD report justified our positive expectations. The final figure was 214 000, that is the first positive sign for Friday's data on the Non-Farm. Japan upset investors with its latest releases having published weak personal consumption report. The yields differential on US and Japanese government bonds has been expanding the last four trading days in a row, which supported the demand for the dollar. The pair dollar/yen closed the trades with a decrease.

Publication source
Fort Financial Services information  Fort Financial Services reviews

December 6, 2016
What will happen with the euro after the ECB meeting
Morgan Stanley strategists believe that the ECB will keep rates on hold at this week’s meeting, but can expand its QE purchase program. But they consider different scenarios with various responses from the euro...
December 6, 2016
Euro shrugs off Italian referendum results rallying to a 2-week high
The single currency opened Monday on a bearish note but managed to pare losses as investors brushed aside the Italian referendum results. EURUSD closed at a 2-week high right near the resistance level of 1.0765 as noted in yesterday's commentary...
December 6, 2016
Financial markets gripped by Monday jitters
Risk aversion intensified during early trading on Monday following reports of Italian Prime Minister Matteo Renzi experiencing a crushing defeat in the referendum on constitutional reforms which sparked concerns of renewed political instability in Europe...

FIBO Group Rating
FBS Rating
EXNESS Rating
Z.com Trade Rating
FOREX.com Rating
OANDA Rating

OptionsXO Rating
Porter Finance Rating
OptionBit Rating
Beeoptions Rating
EZTrader Rating
Grand Option Rating