[SIZE="5"] Fundamental Analysis: May 18, 2016
We heard a lot of economic news on Tuesday, US data being the main driver of the day. The States has given the report of Core Consumer Price Index to the public wherein the data came in at 0,2% which occur simultaneously with the report and also the Industrial Production which reached 0,7% against the reported 0,3%. The Federal Reserve representatives, Williams and Lockhart gave their statements. The idea of raising the rates twice or thrice this year was supported by Williams. Meanwhile, Lockhart stated that the negative rates scenario was not intended.
As for the Eurozone, it only published their positive Trade Balance for March wherein the data came in at 28.6 billion against the report of 22.5 billion.
Since September last year, the inflation in the UK decelerated in April for the first time which also caused the pound to lessen its gains contrary with the dollar. After increasing by 0,5% in March, the Retail Price Index grew by 0,3% y/y. The inflation was expected to stay at 0,5% by the traders, but the British inflation has been low from the target level of 2% for more than 2 years.
In March, the Japanese Industrial Production aggressively increased wherein the data came in at 3,8% against the previous 3,6%. While the Capacity Utilization grew from -5,4% to 3,2% in March. But still these statistics could not support the yen. [/SIZE]
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[size="1"][color="Silver"]Добавлено через 29 минут[/color][/size]
[SIZE="6"]Technical Analysis for GBP/USD: May 18, 2016
Bonds Market. The 10-year UK government bonds yield decreased which lessen the investments of the British assets. The UK presented Consumer Price index for April wherein the data came in at 0,3% y/y against the report of 0,5% y/y.
The first support occurs at 1.4400 and at 1.4320 subsequently. The first resistance stands at 1.4480 and at 1.4560 subsequently.
The price is in the Ichimoku Cloud and it is below the Chikou Span. The Tenkan-sen and the Kijun-sen form a horizontal movement creating a "Dead Cross".
The MACD indicator is in an impartial location. The price is correcting.[/SIZE]
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