Fundamental Analysis 2017.08.01 – USD, EUR, GBP and Metals

Fundamental Analysis 2017.08.01 – USD, EUR, GBP and Metals
01 / 08 / 2017 | General
All major currency pairs and G10 currencies seem to be mobile, some moving up, others unfortunately slipping.
Proving that no currency is big enough to not fail, is the USD which continued to slip against its other G10 counterparts.

EUR/USD grew 0.80% reaching 1.1840. This effect was primarily due to positive EU unemployment statistics, that drop 9.1% in June down from 9.2% in May. Another significant economic calendar event which should impact the market is the Q2 EU GDP publication scheduled for 11:00 GMT+2.

GBP/USD also continued its upward movement, even considering mixed and lackluster UK statistics. Net Lending to Individuals volume saw and increase reaching 5.6 billion GBP up from 5.3 billion GBP in May. On the other hand, though Mortgage Approvals number slipped to 64.484K from the previous 65.109K in May. Monday saw the GBP/USD grow by 0.66% reaching 110.67.

USD/JPY fell to 110.25 after losing 0.38% as an immediate result of a weakening USD.

AUD/USD gained 0.54% and at the moment of writing this article is at 0.8040. The RBA decision to hold interest rates at 1.5% didn’t surprise anyone so the AUD/USD currency pair wasn’t effected.

Gold is currently banded between the prices 1265.64–1270.92. Silver increased 0.24% reaching 16.79.
Oil under the speculation of US sanctions on Venezuelan Oil. Brent went up 0.69% reaching 52.62. WTI also increased, a little less than Brent though - 0.64% - and is currently at 50.20.

US and EU stocks trading is mixed. Dow Jones is up to a historic high of 21996.5. NQ fell to 5905.1. S&P gained 0.10% reaching 2474.7.

The FTSE reached 7408.1. CAC fell to 5105.1. The DAX is currently at 12126.0 after losing 0.41%.

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

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