Fundamental analysis for August 10, 2015

10 August, 2015

At the end of the last week the markets tended to consolidate ahead of the Friday’s US key data output, including the labor market report. As a result, the dollar fell slightly against the EUR and JPY and in dispute with the British pound it recorded a certain "profit".

The US Labor Department reported that the US economy added 215,000 jobs last month, instead of the expected 223000. There was created 231,000 jobs in June and the figures were revised from 223,000.

Among the pairs that demonstrated the maximum volatility we should identify only the pair GBP/USD where the US dollar was supported by the information indicating a certain extent of the British regulator monetary policy prospects. Last week the Bank of England left its key interest rate unchanged at the level of 0.5%, the fund bond purchases volume also was not changed, leaving it in the amount of 375 billion pounds and has signaled that it is still preparing to start raising interest rates, but only at the beginning of next year. As a result, the pair GBP/USD has declined more than 100 points downwards.

There were published the BoJ meeting results- the Japanese regulator has not changed its monetary policy parameters. The market reacted to this information rather quiet and the pair USD/JPY continued to form the side trend. Nevertheless the pair closed the trades with a decrease.


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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...

Brent remained rather unchanged

There seems to be little drive for any real direction now. Brent remained rather unchanged on Thursday staying in a tight range above 55.50 dollars per barrel. The Asian upward impetus lost it legs when European markets opened...

  


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