Fundamental analysis for June 05, 2015

5 June, 2015

The pair EUR/USD had increased amid the ECB inflation forecast revision for 2015. However it slightly fell by the end of the day.

On the contrary, the pair GBP/USD had decreased by the end of the day after the service sector PMI index weak data release when the pair fell to the lowest level this year that confirms the UK low economic growth. The pair fell after a strong growth. There was published the GDP growth forecast in the second quarter to the level of 0.7% according to the Bank of England last meeting minutes. The data about the managers’ mood in the manufacturing and non-manufacturing sectors indicate that this indicator will be below the forecast level. It should also be noted that the Brent crude lost more than 2% amid the negative expectations for the OPEC summit.

The pair USD/JPY had increased amid the risky assets demand. The carry trade transactions again put pressure on the Japanese yen. The yen devaluation has a positive impact on Japanese exporters - in April industrial production increased by 1% while in May the manufacturing PMI rose above 50%.

The US initial jobless claims showed positive release. The May index fell to 8000 to 276 000. The forecast growth was 279,000.


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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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