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> Fundamental Analysis 2017.08.15 – US Dollar Rallies Safe-Havens Slip
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Fundamental Analysis 2017.08.15 – US Dollar Rallies Safe-Havens Slip

STO

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Yesterday’s trading saw a strengthening of the US dollar opposite other major currencies. Lack of other news sans the lackluster EU Industrial Production data, that could bolster the dollar points towards the upwards trend being correctional.

Focus today will inevitably be stateside again – with July’s Retail Sales being announced. At the moments expectations are looking towards a 0.4% in July which is much better than –0.2% figures from June. This might mean a short-term support for the dollar.

EUR/USD lost 0.58% reaching 1.1753.

GBP/USD also slipped, losing 0.30% with the currency pair’s price being in the area of 1.2964 at the time of this articles writing. Of course, traders will be eagerly awaiting the UK’s CPI slated to be released at 10:30 GMT+2.
USD/JPY pair saw a boost of 1.02% and is trading the region of 110.27.
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As the market abated from their fear over USA and North Korean frictions, investors took advantage of it by closing USD positions in a profitable margin.

AUD/USD lost 0.42% with its price in the area of 0.7860.

Metals as safe-havens slipped due to the price of USD going up and the general political atmosphere quieting. Gold fell 1.21% trading at 1274.60. Silver also fell, but more significantly by 1.46% and is current at the 16.86 price point.

After a temporary move upwards, oil experienced a drop in prices. A ramp up by OPEC members oil production and an increase of production in the US contributed to this price drop. Brent lost 2.73% stopping at 50.52. WTI went down by 2.37% and is currently trading in the region of 47.70.

Both European and US stock are trading in the green. Dow Jones trading in the area of 22059.0 after gaining 0.86%. NQ went up 1.75% reaching 5938.4. S&P saw and increase of 1.31% and its price level reaching 2473.4. The FTSE also gained 1.22% finally reaching 7381.6. The CAC gained 1.65% to reach 5140.7. The German DAX went up 1.89% and is currently 12091.1.

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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Source: https://www.stofs.com/en/newsroom/entry/DAILY_MARKET/fundamental-analysis-20170815-us-dollar-rallies-safe-havens-slip/?camp=24219
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