Fundamental analysis for March 10, 2016

March 10, 2016

This week is poor with news. There is one important exception: the ECB meeting on Thursday, March 10. The ECB President Draghi has repeatedly made it clear that the ECB is ready to support the economic growth of the Eurozone by their actions. The euro was effected by expectations that the European Central Bank was likely to soften the monetary policy again this week. The ECB is expected to cut the rates further into negative territory on Thursday.

Manufacturing Production in the UK increased in January by 0.7%, vs the expectations of 0.2%, as well as the decline in the month before by 0.3%. In annual terms, Manufacturing Production fell by 0.1%, although we expected a decrease by 0.7%. Pound remained under pressure amid uncertainty about the Brexit results.

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October 21, 2016
EUR/USD remained unchanged after the ECB
The price maintained its bearish tone on Thursday. The EUR/USD pair stayed around its recent lows during the day. The euro slightly strengthened towards 1.1000 ahead of the US opening. The 50-EMA limited the euro recovery in the 1 hour chart...
October 21, 2016
Decisions on QE Postponed until December
Asian stock markets are narrowly mixed, with Japanese bourses managing marginal gains as the Yen falls against the Dollar. Stock futures in the U.S. are down...
October 21, 2016
EURUSD at $1.09, but declines could be limited
The ECB monetary policy meeting yesterday saw the euro give up its intraday gains to close on a bearish note. As Draghi signaled that the central bank would need time to assess the monetary policy situation...

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