Fundamental analysis for August 31, 2015

31 August, 2015

The American currency continued its winning streak at the end of the week – the dollar index basket closed the trades at the mark of 95.81. The Japanese, European and the US stock indices growth have added arguments for the concerns reduction about the world economic growth, but the US GDP strong data and other indicators increased the demand for the US dollar which further strengthened against major opponents. The second quarter US GDP second estimate was revised in the positive direction by 1.4% to the level of 3.7%. The US jobless claims number has declined by 6 thousand for the last week. Positive economic data once again led investors to think about the federal funds rate increase at the FOMC September meeting.

There was the world leading stock markets moderate demand during the day which also put pressure on the funding currencies that are the euro and the Japanese yen. In this context, the US currency enjoyed confident demand against its major competitors. As a result, the EUR/USD pair has finished the trading day with the price decrease, the pair GBP/USD had declined by the end of the day and the USD/JPY had increased.


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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...


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...

  


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