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Thread: Fundamental Analysis by ForexMart

  1. #11


    EUR/USD. July 31, 2020 – Euro has updated its maximum at around 1.1900

    The euro continues to rally, reaching 1.1900. The US dollar again came under pressure from several factors at once: from the fresh macroeconomic data and statements by US President Donald Trump.

    So, yesterday's data on US GDP showed a decline in the US economy in the II quarter by 32.9%. This was the largest decline since the Great Depression. Experts note that without the $3 trillion stimulus package, the GDP failure would have been even greater, but the current figures are impressive.

    Additional pressure on the currency was exerted by the words of D. Trump, who does not exclude the postponement of the upcoming presidential elections in November due to low GDP and economic problems. Moreover, the lack of progress in talks between Republicans and Democrats in the US Congress on a new $1 trillion package of measures also does not give the US dollar optimism.

    Today we should pay attention to the data on inflation for July in the eurozone and changes in the volume of GDP for the II quarter. Inflation in the region rose 0.4% on an annualized basis, while GDP fell by a record 12.1%. Such news somewhat dampened the appetite for the euro, which allowed the EUR/USD pair to fall to 1.1850.

  2. #12


    GBP/USD. August 3, 2020 – Sterling started to decline from highs

    Monday starts with a moderate weakening of the pound sterling after rising to the level of 1.3100. The current quote for the GBP/USD pair is 1.3000. Rally of the British currency lasted 11 days in a row; experts note that such a growth of the pound has not been observed for a whole decade.

    Today, the sterling was under pressure from the statistics on business activity in the UK manufacturing sector for July. The indicator rose from 50.1 points to 53.3 points. However, the latest data turned out to be worse than the forecast for growth to the level of 53.6 points, which had a negative impact on the exchange rate.

    Additional negativity comes from the uncertainty surrounding Brexit. Negotiations between the UK and the EU are failing, and the likelihood that the country will leave the EU without a full-fledged trade agreement is growing every day.

    A meeting of the Board of the Bank of England will take place on Thursday. Market participants expect that all parameters of the regulator's monetary policy will remain unchanged.

  3. #13


    Brent. August 04, 2020 – Oil awaiting data from API

    Yesterday ended with the growth of Brent quotes to $44.40 per barrel. Market participants are optimistic about the further recovery of demand after the release of fairly good reports on business activity in the manufacturing sector of the eurozone and the United States.

    Further support for oil prices is provided by a decrease in the number of new cases of coronavirus infection in the United States, which also indicates a further recovery in demand.

    However, on Tuesday Brent quotes began to decline to $ 43.40 per barrel. The asset is still under pressure from the increase in oil production by the OPEC+ countries and Russia. More and more countries are gradually phasing out the previously set production quotas as part of the OPEC deal.

    Today and tomorrow you should pay attention to the data from the American Petroleum Institute (API) and the US Department of Energy on crude oil reserves in the country. In case of another decline in reserves, Brent quotes may test the resistance of $45 per barrel.

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