Fundamental analysis for June 16, 2015

16 June, 2015

The pair EUR/USD was in the flat before Draghi's speech. Traders ignored the US positive macroeconomic statistics, still the "Greek factor" did not allow bulls to win during the day. However by the end of the trades the pair increased. By the end of the day the pair GBP/USD had increased amid the EUR/GBP quotations decrease which supported the British pound. During the day the pair USD/JPY was in the flat as well amid the Japan and the US stock market sales.

Traders continue to believe that the next week the Federal Reserve may prepare the market to the interest rates growth in the short term. The Fed was in the spotlight after the US data that over the last few days have shown the economic growth signs which might serve as a basis to start the key rate raising.

The US producer price index rose up by 0.5% m/m in May, exceeding the growth forecasts by+ 0.4%. In April the index declined by 0.4%. The annualized rate fell by 1.1% in May against the decline by 0.8% in April. The basic price index rose up by 0.6% y/y that is below the growth forecast by 0.7%. Meanwhile, the core prices rose up by 0.1% m/m. The main index witnessed the maximum growth since 2012 while the benchmark index remains under pressure.


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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...

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...

  


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