Fundamental analysis for July 01, 20152

21 July, 2015

The June USA inflation indicators were published last Friday. The main CPI index growth rate slowed to 0.3% m/m and accelerated to 0.1% y/y vs. 0.4% m/m and 0.0% y/y in May. This basic inflation level registered dynamics exactly in line with expectations (+ 0.2% m/m and 1.8% y/y). Obviously, the US price pressure is not clearly growing at the rate that would require the interest rates sharp increase, so the macro statistics has remained virtually unnoticed by the bulls within the dollar.

Yesterday the pair EUR/USD slightly corrected. Earlier the pair decreased. Traders sold the euro after the US inflation moderately positive data.

During the day the pair GBP/USD was trading in a flat. The pair EUR/GBP sales saved the British pound from the bears' "onslaught". However, the pair slightly fell.

After a slight growth during the day the pair USD/JPY was trading in a narrow flat amid the long positions profit taking in the world leading stock markets which restrains the US dollar quotations growth.


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Pound tested 1.3200 and stopped

The buying interest persists in the market. All technical indicators are positive supporting buy orders. The resistance lies at 1.3300, the support comes...

Brent failed to approach 49.50

Sellers kept driving the benchmark lower the whole night and found an obstacle at 48.50. The resistance lies at 49.50, the support lies in at 48.50 dollars...

DAX index turned bearish

The benchmark broke 12600 first and then weakened down to 12527. Bulls returned control in the early European session and returned the price to 12600...


Gold bounced from its upper limit

We expect the spot to retest 1240 in the short-term. Should sellers succeed they may lead the pair down to 1230. If the level stands the spot...

Gold price reached important target

The prices have reached their important target of 1260 and this was only a bounce and a correction of the downtrend...

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...

  


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