Fundamental analysis for August 04, 2015

4 August, 2015

This week the US dollar is being traded without significant changes in anticipation of important macroeconomic statistics. Investors are waiting for the US labor market Friday's data. The labor costs record low index in the second quarter raised questions about the Fed key rate hike in September. Thus, the US labor costs index showed the lowest growth rate in the second quarter at the level of 0.2% well below the forecast by 0.7%.

Previously, the dollar was supported by the Federal Reserve two-day meeting. The Fed noted the labor market improvement, but it was not more aggressive than it was expected when it came to the Fed rate hike timing.

In addition, we expect the euro zone important data. Economists expect the official data that will be published next will point to the Germany manufacturing industry growth production, but its slowdown in France and Italy that shows divergence in the euro area economy. However the data in Italy came out showed a growth to 55,3 from 54,1. Nevertheless the pair euro/dollar closed the trades with a decreased.

The pair GBP/USD also decreased. Earlier the pound traded without significant changes in BoE's meeting anticipation on the coming Thursday. At the same time for the first time the central bank will announce the interest rates decision and will publish its meeting minutes and the UK economy new forecasts.

The yen declined against the dollar amid the general demand for the US currency and the interest decrease in safe assets because of the stock indices strengthening.


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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...

  


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