Fundamental analysis for August 12, 20151

12 August, 2015

The week beginning was not successful for the US dollar. The US dollar fell against GBP and EUR, still it recorded quite insignificant "profit" against JPY. There was published the US economy important statistics and, probably, the US dollar decline can be related to the technical factors as well as to the grown doubts that the Fed will begin the policy tightening next month.

The euro sharp rise helped the deputy chairman S. Fisher comments. He said that the Federal Reserve would not raise interest rates in September while it is low inflation. The US Federal Reserve representative D. Lockhart also mentioned in his speech about the low inflation.

In response to these statements the dollar sharply fell down along the whole fronts. The pair EUR/USD and the pair GBP/USD have increased. Only the pair USD/JPY showed the dollar’s growth.

The fact is that the market considered the possibility of the Fed September rate hike almost as a settled issue. Now, when Lockhart excluded the word "September" from his rhetoric, the event no longer looks so certain. It is likely that the Friday's Fed data also influenced it. In any case, it would mean at least the dollar temporary weakening against most of its competitors.


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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...

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...

  


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