Fundamental analysis for June 01, 2015

1 June, 2015

After the two-day growth the US dollar got under pressure. The USDX finished the last trading day at the mark of 97.14. By the end of the day the pair EUR/USD had increased amid the short positions profit taking after the US jobless claims negative release. Now investors do not have a good alternative to the US dollar. We also cannot ignore the "black gold" market dynamics. The oil trading finished in the "green zone" amid the US inventories decline.

The UK GDP second assessment remains unchanged that at the moment put pressure on the pair GBP/USD which fell to the level of 1.5260 after which there was the short positions profit-taking that caused the technical rebound towards 1.5300. The UK National Statistical Office kept the GDP assessment for the first quarter unchanged despite the Bank of England positive forecasts about the May monetary policy meeting results. It should also be noted that the export and the consumer spending indicators were revised in to the negative side.

The Japan weak April retail sales contributed to the pair USD/JPY growth which by the end of the day had increased.


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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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