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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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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