Fundamental analysis for June 19, 2015

19 June, 2015

The main event of the day was the US Federal two-day meeting results announcement. Most the world leading investment banks' economists expect the Federal Reserve positive forecasts still the FOMC representatives sent the dollar to the knockout. The key forecasts for GDP, unemployment and interest rates have been revised to the negative directions which together with uncertainty in relation to the federal funds rate first increase have had significant pressure on the US dollar.

In the light of this the pair EUR/USD has increased, the pair GBP/USD has increased as well, the pair USD/JPY has fallen.

There was the Euro group meeting where they discussed "the Greek debt" solutions. The Greece and the Germany 10-year government bond yields have been increasing for four trading days in a row that pointed out to the low probability of a compromise. Even if the parties were able to reach a consensus - the negotiations would be very long.

The USA published a weekly initial jobless claims report. There was 267 thousand claims last week, While analysts had expected 276 thousand.


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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...


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...

  


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