{"id":109774,"date":"2017-07-27T15:28:39","date_gmt":"2017-07-27T19:28:39","guid":{"rendered":"http:\/\/countingpips.com\/?p=109774"},"modified":"2017-07-27T15:28:39","modified_gmt":"2017-07-27T19:28:39","slug":"fundamental-analysis-usd-picked-up-on-mixed-data-july-27-2017","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/fundamental-analysis-usd-picked-up-on-mixed-data-july-27-2017\/","title":{"rendered":"Fundamental Analysis \u2013 USD picked up on mixed data July 27, 2017"},"content":{"rendered":"
July 27, 2017<\/div>
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By<\/b> Mexgroup.com<\/a><\/p>\n

EUR\/USD erased the morning gains<\/strong><\/p>\n

The greenback has managed to increase in the second part of the day and recovered a little after the massive drop. EUR\/USD dropped significantly in the afternoon, even if the United States data have come in mixed, but the decrease was somehow expected because the pair was too overbought to continue the upside movement.<\/p>\n

The currency pair climbed as much as 1.1776 today, much above the 1.1739 yesterday’s high, has rallied after the FOMC Statement, as you already know, the Federal Reserve has decided to keep the monetary policy unchanged, the Federal Funds Rate remains steady at 1.25%.<\/p>\n

The traders were disappointed and have sent the greenback much lower versus all its rivals because there are rumors that said that we may not see another hike this year. Personally, I believe that the FED could take action again if the US data will impress from September.<\/p>\n

USD climbed today, even if the Unemployment Claims increased unexpectedly higher in the previous week, from 234K to 244K, more versus the 240K estimate, the Core Durable Goods Orders increased only by 0.2%, less versus the 0.4% estimate and compared to 0.3% growth in the previous reporting period. The Prelim Wholesale Inventories have surged by 0.6%, more versus the 0.3% estimate, this was bad for the USD.<\/p>

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Personally, I believe that the USD was driven higher by the technical factors today, has received a helping hand also from the Durable Goods Orders, which increased by 6.5% in June, beating the 3.5% estimate and from the Goods Trade Balance, the indicator increased from -66.3B to -63.9B, more compared to the -65.0B estimate.<\/p>\n

On the other hand, the Euro wasn’t impressed by the Euro-zone data, the Spanish Unemployment Rate dropped from 18.8% to 17.2% , much below the 17.8% estimate, while the Euro-zone M3 Money Supply increased by 0.5%, matching expectations. The Gfk German Consumer Climate increased from 10.6 to 10.8 points in July, beating the 10.7 estimate, unfortunately the Euro-zone Private Loans have increased only \u00a0by 2.6%, less versus the 2.7% estimate.<\/p>\n

EUR\/USD dropped today, but the perspective remains bullish on the Daily chart, remains to see what will happen tomorrow because the US and the Euro-zone are to release significant numbers, so you should keep an eye on the economic calendar to see what will move the price.<\/p>\n

By Olimpiu Tuns<\/strong><\/p>\n

Market Analyst <\/strong><\/p>\n

Risk Disclaimer:<\/span><\/em><\/p>\n

Trading in general is very risky and is not suited for everyone. There is always a chance of losing some or all of your initial investment\/deposit, so do not invest money you can afford to lose. You are strongly advised to carry out your independent research before making any trading decisions.\u00a0 All the analysis, market reports posted on this site are only educational and do not constitute an investment advice or recommendation to open or close positions on international financial markets. The author is not responsible for any loss of profit or damage which may arise from transactions made based on any information on this web site.<\/span><\/em><\/p>\n

The post Fundamental Analysis – USD picked up on mixed data July 27, 2017<\/a> appeared first on mexgroupblog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Mexgroup.com EUR\/USD erased the morning gains The greenback has managed to increase in the second part of the day and recovered a little after the massive drop. EUR\/USD dropped significantly in the afternoon, even if the United States data have come in mixed, but the decrease was somehow expected because the pair was too […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-109774","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109774","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=109774"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109774\/revisions"}],"predecessor-version":[{"id":109775,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109774\/revisions\/109775"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=109774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=109774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=109774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}