Fundamental analysis for July 10, 2015

10 July, 2015

Yesterday the pair EUR/USD grew amid the Greece government statement that Athens wish to remain in the Eurozone. It was noted that Athens promised to implement measures in the field of taxes and pensions at the beginning of the next week. The Old World banking sector was among the growth leaders that indicated the financial risks "degree" decline. However the pair fell by the end of the trades.

By the end of the day the pair GBP/USD had again decreased. The British pound is still under pressure amid the bearish trend in the "black gold" market.

The pair USD/JPY was growing but it decreased by the end of the day amid the Chinese stock market panic sales which spilled over into the rest of the Asian equity markets. Investors went into "safe assets" which has traditionally been the Japanese yen.

There was the US Department Energy release published that indicates the oil and oil products increase which will contribute to partial short positions profit taking in the "black gold" market.

The unemployed number for the first time has risen from 282,000 to 297,000, the forecast was 275,000 according to the published US release.


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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...

Gold prices remained in green

The bullish market structure remained in place on Thursday...

  


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