Fundamental analysis for July 02, 2015

2 July, 2015

The European Commission President Jean-Claude Juncker sent to Greece the details of a new agreement with creditors. According to Juncker, if the Greeks rejects the proposal in the referendum, it will mean that they will vote for the eurozone exit. The ECB, Benoit Ker said that Greece's exit from the Eurozone can not be excluded now.

The EUR/USD decreased after the June positive US consumer confidence release. The Conference Board index came to the level of 101.4, indicating increased consumer activity.

The pair GBP/USD finished trading in the "red zone". The British currency was under pressure due to lower government bonds yields.

The USD/JPY fell against the demand for safe assets due to the situation around Greece. However the pair increased by the end of the day.

We shall pay attention to the United States statistics: the ADP US employment and business activity in the manufacturing sector. In the first two months of the second quarter, the US economy is steadily creating more than 200 thousand new jobs, indicating that the output data will be within the median forecasts. During June, the jobs number in the private sector amounted to 237 thousand. The forecast was 220 thousands. The business production activity showed 53.5 when the forecast was 53.2.


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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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