Fundamental analysis for June 24, 2015

24 June, 2015

The EUR/USD lost some ground after the long positions profit taking. The final decision on Greece has not adopted yet and traders are in no hurry to long.

The GBP/USD fell as well amid the UK government bonds yields falling in relation to their counterparts from the US and Germany.

The pair USD/JPY grew which caused the carry trade transactions opening.

They reported that the Greece government has submitted new proposals that include significant concessions related to the deficit reduction and pension reform. That news supported the euro as prompted the market to believe that the negotiations with the Athens creditors can get the ball rolling and finish with positive solutions. There were also reports on the euro side that the European Central Bank increased the emergency funding amount to the Greece banks. However, the warnings from the euro area members that the immediate breakthrough in the negotiation is unlikely to happen soon changed the investors' sentiment.


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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...


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...

  


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