Fundamental analysis for August 06, 2015

6 August, 2015

The market trades are rather sluggish in anticipation of new movement catalysts. The dollar keeps the overall positive mood ahead of the coming Friday labor market publication which may be defined in terms of the US interest rates timing and thus the US currency prospects.

The US currency was supported by the Federal Reserve System representative statement. The Atlanta Fed President Dennis Lockhart said the central bank may raise short-term interest rates next month.

The US issued the employment outside agricultural sector release from ADP. The data came lower than expected 215 thousand. The number of employees amounted to 185 thousand.

The euro fell amid the increased demand for the dollar. Greece reported that it planned to sign the bailout agreement until 18 August. Greece will carry out a regular payment to the ECB on 20 August and the same deadline for the third tranche agreement signing. The pair is trading in a flat after a decrease.

Earlier the pound fell amid the renewed speculation that the Fed can be tempted to increase the key rate in September. The pair pound/dollar slightly increased on the yesterday’s trades.

The pair USD/JPY has updated the highs and continues to maintain an optimistic tone with the overall demand for the dollar.


Source link  
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...

  


Share: