Fundamental analysis for July 16, 2015

16 July, 2015

The main positive related with Greece has been already played out. Now, traders gradually become aware of what is the price of the agreement. The country is faced with the necessity of hard and painful reforms which are unlikely to please the public. There are reports about the civil servants strikes in the country. Now everything will depend on the government's ability to convey the entire population of the need for the reform. The important news became the Yellen's speech where she said that the rate increase could be expected this year.

The EUR/USD was traded in a flat amid the mixed news background. The euro zone and the US alternately disappointed the market with weak macroeconomic statistics. After the J. Yellen’s speech the dollar strengthened and the pair fell.

Mark Carney has rightly become the main week beginning newsmaker. The rising interest rates moment is getting closer - stated the head of the Bank of England, which caused the rapid growth of the British currency. At the end of the day the pair GBP/USD increased.

The pair USD/JPY spent in the positive sentiment last trading day. Earlier traders partly fixed long positions profits considering current levels less attractive to long, based on the continuation of the uptrend. However the news supported the dollar and the pair increased.


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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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