Online Currency Trading Fundamental Analysis – May 14, 2014

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Online Currency Trading Fundamental Analysis - May 14, 2014

Today’s online currency trading fundamental analysis review covers the latest round of economic data from the previous US session and the latest London and Asian market trading hours.

The US dollar gained ground in recent trading when risk sentiment started to favor lower-yielding currencies. Most other forex pairs were stuck in consolidation, as traders awaited the top-tier data releases this week. US retail sales came in weaker than expected, as the core version of the report showed a flat reading while the headline figure revealed a mere 0.1% uptick. US headline and core PPI are up for release today and slower producer price increases of 0.2% are eyed.

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Online Currency Trading Recap

The euro underwent another selling wave in recent trading when the Bundesbank expressed its support for further ECB easing. In an interview with the Wall Street Journal, an insider shared that the German central bank is willing to back negative deposit rates or further LTRO as the euro zone struggles to combat low inflation. German ZEW was much weaker than expected, as the index slipped from 43.2 to 33.1. Euro zone industrial production was just as expected, down by 0.3%.

The pound was put on a weak spot in recent trading, thanks to the bleak UK jobs report. The release showed a mere 25.1K drop in unemployment, lower than the estimated 30.4K decline. Average earnings was also weaker than expected at 1.7% versus the estimated 2.2% increase.

Comdolls were in for a bit of a recovery in recent online currency trading, despite data from China and Australia being mostly weaker than expected. New Zealand retail sales simply came in line with expectations, barely triggering any impact on the Kiwi. There are no reports due from these comdoll economies for the rest of the trading day.

To contact the reporter of the story: James Brennan at james@forexminute.com