Fundamental analysis for May 20, 2016
20 May, 2016
The dollar was traded at a seven-week high against the basket of major currencies. The dollar grew when the April Fed meeting minutes showed that the interest rates could rise as early as the next month. The US published weekly initial jobless claims report (278k vs. expectations 275k). William Dudley (the Fed representative) gave his speech by the end of the trading day. According to Dudley if the economy corresponds to the forecast the regulator shall hike the rate in June or July.
The Central Bank of the European Union published its last meeting minutes. According to the minutes the Central Bank may use any instruments to rise the inflation, as long as they are effective.
The pound continued to strengthen against the dollar when the volume of the UK retail sales rose in April. The volume grew despite a sharp fall of clothing sales, which could be due to off-season weather.
The US dollar rose to a three-week high against the yen. The pair USD / JPY grew against the correction on the Japanese equity markets and after the FOMC minutes publication. Only by the end of the trades the pair dollar/yen decreased.
Source link
Related materials
On Tuesday, US markets continued to gain, after a positive start of the trading week on Monday. It is characteristic that on the positive sentiment...
The last two trading days are marked by negative market dynamics, as equity indices are under pressure. On Wednesday, Europe was under pressure...
Asian indexes were mixed on Thursday following a soft close in Wall Street following a widely anticipated tax reform approval by Congress...
Asia markets were mixed on Monday, following a strong lead from Wall Street last week as market players looked ahead to fresh economic data, while...
The preliminary estimate of the consumer price index in November rose to 1.5% from 1.4%. The data turned out to be less than expected...
The softer tone in the US Dollar allowed gold prices to reverse some losses. Buyers broke the upper limit of the selling channel and almost...
The buying interest persists in the market. All technical indicators are positive supporting buy orders. The resistance lies at 1.3300, the support comes...
Sellers kept driving the benchmark lower the whole night and found an obstacle at 48.50. The resistance lies at 49.50, the support lies in at 48.50 dollars...
The benchmark broke 12600 first and then weakened down to 12527. Bulls returned control in the early European session and returned the price to 12600...
Top Brokers offering Forex Market Analysis
Forex Currencies Forecasts
Top 10 Forex Brokers 2018
| # | Broker | Review | |
|---|---|---|---|
| 1 |  | easyMarkets | 89% |
| 2 |  | FXTM | 88% |
| 3 |  | HYCM | 86% |
| 4 |  | FxPro | 82% |
| 5 |  | FIBO Group | 81% |
| 6 |  | FXCM | 71% |
| 7 |  | HotForex | 70% |
| 8 |  | XM | 69% |
| 9 |  | Alfa-Forex | 68% |
| 10 |  | Grand Capital | 65% |