Fundamental analysis for August 05, 2015

5 August, 2015

The beginning of the current week was relatively calm in the currency market. The dollar continued to strengthen against the major competitors, continuing to enjoy the support by the Fed rate hike expectations. However the dollar slightly weakened on the yesterday’s trades.

Earlier the pair EUR/USD once again came under pressure, at the same time there was not any problem with the local growth drivers. The July PMI manufacturing activity index in the euro zone countries was mostly positive while the region index exceeded expectations and amounted to 52.4 against the expected 52.2. But it was not enough to strengthen the single European currency. Nevertheless the pair slightly increased on Tuesday.

Earlier the dollar got a new reason to grow. The personal spending rose in June more than expected, reflecting a growth by 0.4% against the forecast at the level of 0.3%. At a time when traders are almost convinced in the Fed rates raising until the end of the year, it was enough to trigger a purchases wave.

The pair pound/dollar closed the trades with a growth and the pair dollar/yen was trading in a flat.


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Gold prices remained in green

The bullish market structure remained in place on Thursday...

Gold prices traded in green

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Brent found a solid support after two day decline

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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

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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

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