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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Pound tested 1.3200 and stopped

The buying interest persists in the market. All technical indicators are positive supporting buy orders. The resistance lies at 1.3300, the support comes...

Brent failed to approach 49.50

Sellers kept driving the benchmark lower the whole night and found an obstacle at 48.50. The resistance lies at 49.50, the support lies in at 48.50 dollars...

DAX index turned bearish

The benchmark broke 12600 first and then weakened down to 12527. Bulls returned control in the early European session and returned the price to 12600...


Gold bounced from its upper limit

We expect the spot to retest 1240 in the short-term. Should sellers succeed they may lead the pair down to 1230. If the level stands the spot...

Gold price reached important target

The prices have reached their important target of 1260 and this was only a bounce and a correction of the downtrend...

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...

  


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