Fundamental analysis for May 26, 2015

26 May, 2015

The US dollar finished the last week on a positive note. The new week for the dollar also began with its consolidation. The core inflation indicator (Core CPI) came out 0.1% better than traders had expected which increased the demand for the US dollar. There has been the US trend reversal and during summer we may expect new USDX highs. Against this negative background the pairs EUR/USD and GBP/USD had decreased and consolidated by the end the day.

The Bank of Japan announced its monetary policy meeting results, still the market was not surprised. The stimulating base remained at the same level while the GDP forecast was raised up by 1% for the current year. At the moment the pair USD/JPY reached the level of 120.65, but after the US inflation data output bulls were able to bring the situation under control. As a result, the trading day ended with a slight correction after the quotations growth.

In this context, during this week we may expect the downtrend continuation. The previous day was marked by the calm trading amid the lack of important macroeconomic statistics publication as well as the banking weekend on the occasion of t he Germany, the UK and the US public holidays.


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Dollar setback due to recent PCE date

Today is last day of the month and FED's members speeches are to be announced therefore the market volatility growth is expected...

Gold has jumped to 1265 level

The resistance holds at 1280, support comes in at 1245.9. Major resistance is highlighted at 1295.4. Next target is set at 1350...

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...

  


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