Fundamental analysis for August 21, 2015

21 August, 2015

The Fed minutes put pressure on the US dollar. The dollar was sold against all of its major opponents which led to its decrease at the end of the day. The meeting minutes have not convinced investors that interest rates increase would be in September. The protocol content that noted fears, concerning the dollar growth, can have a negative impact on the inflation, an economic growth and foreign trade; it has significantly increased the doubts that the Fed will have to tighten policy in the short term. However, the pressure on the dollar was moderate. Investors focused their attention on the number of initial jobless claims week data which was expected with slight reduction up to 272 thousand from 274 thousand. In fact the jobless claims number increased by 4 thousand to 277 thousand.

The pair EUR/USD had strengthened after the US inflation moderately negative data. The July base rate remained at the level of 1.8%, still traders had expected it at the level of 1.9%.

By the end of the day the pair GBP/USD had symbolically strengthened. The low oil prices held back bulls from the active offensive.

The world leading stock markets sales continued to put pressure on the pair USD/JPY which at the end of the day decreased.


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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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