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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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...

Oil prices recovered back

Oil prices rebounded from the oversold zone in the Asian session. Sellers failed to regain 55.50 and gave the way to buyers. Buyers took a chance and had reversed all Friday' losses by the Monday's noon...


Gold reached three-month highs

Spot gold remained on strong bullish footing on Friday. After an Asian flat the price got an upward impetus in the European morning...

The euro is under pressure amid growing concerns

The single currency regained a minor portion of its losses in the Asian session on Wednesday. The pair was able to reach 1.0550. However, the selling pressure around the euro remained unchanged pushing the spot to fresh lows...

EURUSD is having difficulties to go any higher

The dollar fell on Friday amid a light market due to US President's Day. Investors are monitoring the US political situation and waiting for a decision on financial aid to Greece...

  


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