Fundamental analysis for September 18, 2015

18 September, 2015

The US dollar has fallen to the three weeks minimum against the most major currencies. The US economic data turned out to be weaker than expected. The Federal Reserve did not raise interest rates at the September meeting.

According to the US Labor Department the initial jobless claims number became less than 11 thousand having fallen to 264 thousand.

The EUR/USD has increased amid the oil quotations growth after the US crude oil stockpiles positive publication. Last week stocks fell slightly by more than 2 million barrels which supported the demand for the “black gold".

The pair GBP/USD had increased by the end of the day. The pound has significantly strengthened against the US dollar, having offset all positions that had been lost the other day. The currency was supported by the UK labor market strong data. As it became known, the UK workers’ average earnings (excluding bonuses) have significantly increased for three months (to July), having registered the highest rates for more than six years.

The pair USD/JPY had grown. The yen has significantly decreased against the US dollar, having reached the minimum at the same time. The news that the Economic Cooperation and Development Organization has revised the world economic growth forecast over the next 2 years put pressure on the yen. However the pair decreased after the Fed’s meeting results publication


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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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