Fundamental analysis for September 08, 2015

8 September, 2015

There was volatile dynamics at the end of the last week. The main event was the US labor market data publication. This release results are always uneven. On the one hand, the Non-Farm index came out worse than the consensus forecast at the level of 173 thousand. On the other hand, the unemployment rate more rapidly reduced as well as the average earnings increased. The dollar came under pressure in recent weeks as the China slowing growth pace prompted investors to temper the first Fed rate increase expectations. The dollar has grown against the commodity currencies that were contributed partially by the oil prices decline.

At the beginning of the new week the euro has grown against the dollar; the pair EUR/USD has increased. Earlier the euro fell to the two-week low against the dollar after the European Central Bank pointed to the current program QE increase possibility and also lowered its growth and inflation forecast. The yen showed its decrease at the beginning of the trading week, the pair USD/JPY started the week with a growth, the pair GBP/USD has increased as well.


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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...

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...

  


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