Fundamental analysis for August 10, 20151

11 August, 2015

Last week the foreign exchange market trades were under the wait and see positions’ influence that investors have taken on the eve of the July US employment release, hoping to get fresh guidance concerning the rate increases time.

The June and May Non-Farms were revised for an increase, in general by 14 thousand and apparently, it strengthened confidence that the Fed short-term interest rates would be raised in September and caused the dollar full-scale purchases explosion. However, the "bulls" triumph was not long, very soon the US dollar came under pressure. At the beginning of the new week it was not able to maintain its achievements against the pound besides earlier the pair pound/dollar fell amid the UK negative data.

The euro remained on the "float" in the dispute with the US dollar despite the weak statistics that came from the EU leading economies. The euro negative activity amid the US data was short-term and soon the euro returned all its losses, ending the day with a profit.

After the side consolidation the pair USD/JPY rose on the US reports, but soon it fell down. Obviously, the change of mood within this pair has been provoked by the events in the US debt market where the "treasuries" profitability has fallen sharply after the employment report publication.


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: