Fundamental analysis is a method of evaluating what is happening on the market right now and might happen in the future on the basis of external events and factors. For the currency market, such factors are news, economic and financial statistics, meetings of global Central banks, and speeches delivered by their representatives. Fundamental approach allows to analyze both short- and long-term perspectives.
This Monday afternoon the EUR/USD pair is trading down after a series of publications on business activity in the manufacturing sector in several European countries.
The macroeconomic statistics, which were published during the last few days, were extremely ambiguous.
The GBP/USD pair has found support and stabilized after sales on Wednesday and the beginning of the week, but it is not a fact that these sales will stop.
This morning the EUR/USD pair’s gains were reduced to a minimum, the instrument fell back to below 1.3600.
The Russian ruble depreciates for the second consecutive day in its pairs with the dollar and the euro, "dumping" the overbought excess.
The rebound in the euro/dollar was short-lived, as yesterday evening the investor sentiment changed, and on Wednesday the instrument remains under sales.
The USD/JPY pair retreats once again, but prospects are quite positive: it is possible that the instrument will soon return to a recovery process.
This Tuesday morning the main currency pair is trading at an increase, using the background information as the support for a technical rebound.