Fundamental analysis for June 02, 2015

2 June, 2015

The US dollar was declining amid the GDP second assessment first quarter weak data. The final figure was revised into the negative side to the level of 0.7%. In the light of this the dollar index basket (USDX) closed the trades at the mark of 96.94. Besides the US weak data, the Germany positive statistics contributed to the quotations growth. Retail sales rose up by 1.7% in April that encouraged traders to long. Still ISM supported the dollar and the pair EUR/USD decreased by the end of the day.

The pair GBP/USD was under pressure amid the UK and the US negative bond yields increase, but after the US GDP weak data it was able to recover partially some lost ground. Nevertheless, the trades ended in the negative region- quotations have declined.

The Japan inflation and industrial production positive statistics did not bring the desired dividends to the Japanese yen. The powerful bullish trend within the pair USD/JPY pair is continued - according to the trades results, quotations have increased.


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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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