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.


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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...

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...

  


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