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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Gold prices bounced off

The spot was struggling to build onto the recovery during the night trades. Buyers lost their steam at 1265 where the pair found some fresh offers....

Golld turned around and reversed

The bullish trend remained intact on Tuesday. The price bounced from the upper limit...

Gold prices remained in a consolidation phase

Sellers led the spot to 1250 the other day but failed to break below the level. The price remained sandwiched between 1250 - 1255...


DAX grew amid a fresh buying interest

European stocks opened in green when markets recovered from Trump’s failure in Congress. Investors focused on Brexit...

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...

  


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