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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Pound tested 1.3200 and stopped

The buying interest persists in the market. All technical indicators are positive supporting buy orders. The resistance lies at 1.3300, the support comes...

Brent failed to approach 49.50

Sellers kept driving the benchmark lower the whole night and found an obstacle at 48.50. The resistance lies at 49.50, the support lies in at 48.50 dollars...

DAX index turned bearish

The benchmark broke 12600 first and then weakened down to 12527. Bulls returned control in the early European session and returned the price to 12600...


Gold bounced from its upper limit

We expect the spot to retest 1240 in the short-term. Should sellers succeed they may lead the pair down to 1230. If the level stands the spot...

Gold price reached important target

The prices have reached their important target of 1260 and this was only a bounce and a correction of the downtrend...

Dollar setback due to recent PCE date

Today is last day of the month and FED's members speeches are to be announced therefore the market volatility growth is expected...


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...

  


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