Fundamental analysis for September 16, 2015

16 September, 2015

There was a calm trading in the foreign exchange market at the beginning of this week. Almost all the major pairs remained within their ranges as traders continue to be nervous anticipating the Fed.

By the end of the day the pair EUR/USD decreased amid the Brent crude oil decline by 3%. The only notable macroeconomic release was the euro area industrial production report which was significantly higher than expected. The reaction to it was minimal as the market sentiments and the foreign stock exchanges dynamics are playing the single currency driver role.

The GBP/USD has sharply fallen. Earlier it symbolically strengthened amid the UK government bond yields increase relative to their US and Germany counterparts. The currency faced with the increased volatility because of “the Central Bank race": today the Bank of England like the Fed is inclined to interest rates increase.

The pair USD/JPY had decreased amid the capital flight from the "risky assets" into the funding currency. This week the Bank of Japan decided not to change the monetary policy course, saying that the economy and inflation can be recovered with the current incentives. By the end of the trades the pair strengthened.


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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

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...

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...

  


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