Fundamental analysis for August 17, 2015

17 August, 2015

Last week the US dollar was able to compensate only some of the lost positions. The dollar was supported by the US economic data – the US July retail sales suggested that the US economy is reviving; it brings the Fed monetary policy tightening beginning. According to the Commerce Department, the volume sales rose up by 0.6% in July. The messages about the jobless claims were less optimistic - 274 thousand when it was expected 270 thousand, still it slightly disappointed traders.

The pair EUR/USD had decreased by the end of the day amid the long positions profit taking after the week uptrend. Investors focused their attention on the Euro zone GDP and its leading countries preliminary data. The forecasts assumed that the main economic indicator will grow by 0.4% q/q and 1.3% y/y after a 0.4% m/m, 1.0% y/y in the first quarter.

By the end of the day the sterling slightly increased. Earlier the pair GBP/USD had decreased amid the "black gold" market sales. The British currency is traditionally very sensitive to the Brent oil quotations changes.

The pair USD/JPY had increased amid the global equity markets correction which put pressure on the "safe haven" yen. Nevertheless, the pair showed a decrease by the end of the day.


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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...

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...

  


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