05 August 2014
The second month of summer has come to an end and we are ready to summarize its results. Which events of July did impact on the market most of all? Which contracts did help traders of the company to achieve the best results? Our monthly report will let you know about this and many other facts.
As per results of July, EUR/USD pair lost 2.22%. The reason was weak macroeconomic data from Europe along with positive releases on GDP and labor market from the USA. GDP of the Great Britain for the second quarter did not show an expected acceleration, whereas toughening of monetary policy by the Bank of England is questionable. Hence, quotations of the British currency dropped by 1.3%.
Acceleration of bullish trend on the Japanese stock market along with positive releases from the USA contributed to growth of USD/JPY for 1.4%.
Despite Ukrainian crisis and conflict in Gaza strip, gold (XAU/USD) finished July with a 3.3% decline. Platinum (XPT/USD) lost 1.7%, because investors were fixing their profit on long positions following to a durable growth. Upon that, palladium (XPD/USD) was in a demand in July, which allowed this contract to finish month with increase in 3.4%.
In the result of correction on the US stock market, futures contract on S&P500 stock index lost 1.58%. In general, macroeconomic data was positive and if not desire of investors to fix the profit on long positions, we could speak that ascending tendency would go on.
On the market of “black gold” Libyan government was the main news maker when told about increase in oil-production output. Traders hastened to close long positions, hence “Brent” oil lost 5.6%, whereas “WTI” lost 7.5%.
Wish you success in trading!
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