Fundamental analysis for August 24, 2015

24 August, 2015

The US dollar was sold off along the entire market, still the greatest its loss was against the euro and the yen. Obviously, the US Central Bank statements convinced investors that the September policy tightening is unlikely to happen and there are arguments to close positions that were opened earlier on the expectations, relating to the US interest rates growth.

The Euro zone positive news supported the pair EUR/USD. The Germany producer price index exceeded expectations, demonstrating the zero change in July on the month basis and compared to the previous year the rate reduction was -1.3%. In addition, last week the European Commission approved the financial aid third program first tranche to Greece from the planned 86 billion euros, planned for three years.

During the day the pair GBP/USD was trading in a flat amid the oil market "bearish" sentiment as well as the UK retail sales moderately positive statistics: the July growth was 0.1% m/m while it was expected + 0.4% m/m.

The Japanese currency has considerably strengthened its position against the dollar amid the latter major currencies decrease as the Fed is unlikely to change the interest rates in September. The yen was supported by the government bond yields and the stock market indices decrease as well.


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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

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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...

  


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