Fundamental analysis for May 21, 2015

21 May, 2015

The US dollar strengthened significantly relative to its main competitors - the dollar index basket (USDX) finished the trading day at the mark of 95.46. The pair EUR/USD came under attack amid the ECB stimulating measures increase rumors. By the end of the day the pair euro/dollar had decreased.

During the day the pair GBP/USD was also under pressure amid the UK April weak inflation data. The CPI went into the negative territory for the first time since 1960 and against this background the trades ended with the quotations decrease despite a correction was observed earlier.

The bullish trends in the world's leading stock markets contributed to demand for the pair USD/JPY which by the end of the day had increased.

Taking in consideration the oil prices decline traders expected demand for the US dollar before the US Federal Reserve last meeting minutes publication. Bearing in mind the US low inflation expectations, we expected the "pigeon rhetoric" in the report and in this regard an upward rebound in the market.


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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...

EURUSD is having difficulties to go any higher

The dollar fell on Friday amid a light market due to US President's Day. Investors are monitoring the US political situation and waiting for a decision on financial aid to Greece...

  


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