Fundamental analysis for July 31, 2015

31 July, 2015

Yesterday the US dollar was able to strengthen its position against its main competitors - the dollar index basket (USDX) closed the trading day at the mark of 97.10. On Wednesday late in the evening there were announced the US Federal Reserve meeting results.

Monetary authorities have once again confirmed the labor market progress and they also noted the real estate market growth. It was also pointed out that inflation expectations have not changed compared to the last assessment and it is necessary to wait for more positive macroeconomic data to start the monetary policy tightening phase. At first it upset the market, but ultimately the US currency was set to buy again and the US dollar has strengthened relative to all of its main competitors.

The FOMC also pointed out that the federal funds rate first increase can happen in September. Against this background, the pair EUR/USD had decreased by 0.51% by the end of the day, the pair GBP/USD had declined by 0.03% and the pair USD/JPY had increased by 0.30%.


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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...

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...

  


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