Fundamental analysis for July 23, 2015

23 July, 2015

There were two unexpected events in the currency market. Firstly, the pair euro/dollar suddenly showed its intent to recover from the lows and almost immediately gained 100 points. Secondly, the pair dollar/yen steady increase came to an end and quotes also rose up by nearly 100 points - but downwards. The reason is simple: the dollar bulls have decided to take profit, the last week its size was substantial as the US dollar took completely its advantage, expecting the Fed rate hike. It is important to note that it happened amid the practically empty macroeconomic calendar.

The pair EUR/USD had increased amid the short positions profit taking as well as the oil quotations moderate growth. However by the end of the day the pair fell again.

During the day the pair GBP/USD was trading at the levels of 1.5550 - 1.5670 amid the pair EUR/GBP quotations growth which are holding back the British pound.

The pair USD/JPY had increased amid the carry trade transactions closure which contributed to the Japanese yen demand as a funding currency.


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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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