Fundamental analysis for July 27, 2015

27 July, 2015

At the end of the last week the pair EUR/USD increased amid the pair EUR/GBP growth and amid the UK weak macroeconomic statistics. Then the pair consolidated.

By the end of the day the pair GBP / USD had decreased after the June UK retail sales publication - the index decreased by 0.2%. The pound fell after the retail sales weak data output. The data were disappointing. They negated the British retailers' consortium and the British Industry Confederation earlier studies. In general the news is not good, but the consumer spending trend is still growing. In fact, the retail sales showed an increase by 4% y/y while consumer confidence is at the 15-year high, real wages rose up by almost 3% y/y while the employment continues to rise. So consumer spending is not in danger. On the contrary, the United States pleased traders with the positive jobless claims. However the pair pound/dollar slightly corrected.

During the day the pair USD/JPY was trading in a flat amid the world leading stock markets sales which hindered the US dollar's growth. Nevertheless the pair decreased by the end of the day.

After the US jobless claims publication we observed the commodity market sales which is also a positive factor for the US currency as the raw materials cost is denominated in dollars.


Source link  
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...

EURUSD is having difficulties to go any higher

The dollar fell on Friday amid a light market due to US President's Day. Investors are monitoring the US political situation and waiting for a decision on financial aid to Greece...

  


Share: