Fundamental analysis for August 03, 2015

3 August, 2015

The US currency continued its winning streak - the dollar index basket (USDX) closed the trading day at the mark of 97.60. The pair EUR / USD had decreased amid the Germany and Spain inflation slowdown last Friday.

During the day the pair GBP / USD was trading in a flat amid the UK bond yields moderate growth relative to its US and Germany counterparts.

The pair USD / JPY increased amid the "risky assets" demand at the end of the last week.

The last week US second quarter GDP data came out slightly worse than the consensus forecast, but we can consider it moderately positive. The personal consumption expenditures main index for the second quarter increased by 1.8% which exceeded the traders’ expectations. The Fed uses namely this indicator as the consumer activity benchmark.

In general, the US dollar continues to behave as if the Fed’s rate hike is actually a solution. We should remind that the Fed noted the labor market improvement, but it was not more aggressive than expected when it came to the Fed's rate hike timing.


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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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