Fundamental analysis for May 20, 2015

20 May, 2015

The US dollar strengthened to its major competitors - the dollar index basket (USDX) finished the trading day at the mark of 94.31. Traders took profits on the short positions within the US dollar which caused the dollar growth.

The United States can please traders with the construction sector positive data.

The mortgage rate reduction may have a positive impact on the number of issued building permits. However, the Conference Board consumer confidence negative report pointed out that we should not count on the strong deviation from the consensus forecast in a positive direction.

The Consumer Comfort Index, considered by Bloomberg, fell to 43.5 for the week (4-10 May) that is the lowest level since the beginning of March) against 43.7 the previous week. The US economy assessment fell to the five-month low, confidence also fell among the full-time and part-time employed. Retail sales have changed little in April after decrease by 0.2% from January to March. The US economic prospects index fell to 34.5 (the lowest level since mid-December) from 35.8 the previous week.


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Pound reached its monthly high

The pound remained in an upward channel on Tuesday. The price pulled back from its upper limit...

Brent maintained its ask tone

Sellers continued driving the benchmark lower after a brief pause at 50.80 dollars per barrel...

Gold prices remained in green

The bullish market structure remained in place on Thursday...


Gold prices traded in green

The gold recovery stalled around 1235 dollars per ounce on Monday. Buyers did not find any reason to move the price further. The precious metal was slowly declining...

Brent found a solid support after two day decline

Oil prices slightly rose on Friday morning due to the dollar's retreatment. However, Brent further growth was limited on the news that Russian oil production for February did change comparing to January...

Gold prices slightly fell

Gold prices retreated from fresh highs and spent the day in a consolidation. Sellers drove the spot to 1250 where the precious metal stayed in a tight range during the European session...


Oil prices recovered back

Oil prices rebounded from the oversold zone in the Asian session. Sellers failed to regain 55.50 and gave the way to buyers. Buyers took a chance and had reversed all Friday' losses by the Monday's noon...

Gold reached three-month highs

Spot gold remained on strong bullish footing on Friday. After an Asian flat the price got an upward impetus in the European morning...

The euro is under pressure amid growing concerns

The single currency regained a minor portion of its losses in the Asian session on Wednesday. The pair was able to reach 1.0550. However, the selling pressure around the euro remained unchanged pushing the spot to fresh lows...

  


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