Fundamental analysis for March 22, 2016

March 22, 2016

The dollar tried to recover after aggressive sales, still its upward potential was limited, and the US currency was in its third week of decline against the euro. The stock markets sentiment supported the dollar. The main drivers for the risky assets strengthening were: oil growth and Praet's comments (ECB representative) regarding possible further monetary policy.

The EUR/USD showed a mixed background. On the one hand, the growth of "risk appetite" was a negative factor for the euro as a funding currency. On the other hand, moderately negative macroeconomic data from the United States did not allow the dollar to strengthen. Weak Retail Sales for January and February did not allow us to rely on an increase in sales in the secondary market. In fact the data came in at the level of 5,08M against the forecasted 5,34M. However, the pair euro/dollar decreased.

The UK government bonds yield decreased in relation to their counterparts (USA and Germany) which reduced the attractiveness of investments in British assets, and thereby put pressure on the pound. On the other hand, the oil market showed a technical correction as well. Then the oil price showed a growth. The pair pound/dollar closed the trades with a decrease.

Japan celebrated a public holiday, its banks did not work. The market showed low liquidity. The pair dollar/yen slightly increased.

Publication source
Fort Financial Services information  Fort Financial Services reviews

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...
December 5, 2016
Gold prices struggled for a direction
MACD was in the negative territory. If MACD remains in the negative territory, sellers’ positions will strengthen. RSI was in a neutral area...
December 5, 2016
Mixed Jobs Report Keeps High Fed Expectations Intact
As we noted the day before Friday’s US jobs report, only a significantly worse-than-expected reading for November would have likely made the Federal Reserve’s next interest rate decision more difficult...

FIBO Group Rating
OANDA Rating
Vantage FX Rating
FXCM Rating
Fort Financial Services Rating
XM Rating

OptionsXO Rating
Grand Option Rating
Beeoptions Rating
TopOption Rating
OptionFair Rating
TropicalTrade Rating