Recap of January
Opening Price: - 1.1945 on 2nd January
High of the Month: - 1.1975 on 2nd January
Low of the Month: - 1.1095 on 23rd January
Close of the Month: - 1.1297 on 30th January
Fundamental Analysis:-
1. Mario Draghi strengthens QE bets on January 2nd.
2. Greexit Talks.
3. Eurozone CPI declines
4. NFP – Consensus on US Job growth was met, but big earnings was a disappointment which sent the pair higher for the time being.
5. SNB floor was removed abruptly which sent the market crashing.
6. ECB announced a$1.2 Trillion QE programme.
7. FOMC on 29th January was a bit of a disappointment. The US Federal Reserve maintained the “patient” rhetoric when referring to hiking rates, and presented a more hawkish statement, citing evidence that the economy is strengthening especially when it comes to job market. In regards of inflation, the FOMC expects it to decline further in the near time, but considers that it will be something temporal."
Sentiment Analysis:- Due to the divergent monetary policy everyone was bearish on the pair to a possible downside to 1.1000, 1.850, 1.750 and finally 1.500.The
Upside was considered to be capped at 1.2570 (high of last month) which was never breached.
Opening Price: - 1.1945 on 2nd January
High of the Month: - 1.1975 on 2nd January
Low of the Month: - 1.1095 on 23rd January
Close of the Month: - 1.1297 on 30th January
Fundamental Analysis:-
1. Mario Draghi strengthens QE bets on January 2nd.
2. Greexit Talks.
3. Eurozone CPI declines
4. NFP – Consensus on US Job growth was met, but big earnings was a disappointment which sent the pair higher for the time being.
5. SNB floor was removed abruptly which sent the market crashing.
6. ECB announced a$1.2 Trillion QE programme.
7. FOMC on 29th January was a bit of a disappointment. The US Federal Reserve maintained the “patient” rhetoric when referring to hiking rates, and presented a more hawkish statement, citing evidence that the economy is strengthening especially when it comes to job market. In regards of inflation, the FOMC expects it to decline further in the near time, but considers that it will be something temporal."
Sentiment Analysis:- Due to the divergent monetary policy everyone was bearish on the pair to a possible downside to 1.1000, 1.850, 1.750 and finally 1.500.The
Upside was considered to be capped at 1.2570 (high of last month) which was never breached.
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