Fundamental analysis for September 23, 2015

23 September, 2015

The beginning of the week was marked by the US currency growth. The September US Richmond Fed manufacturing index was published, the forecast was 4 against 0, but in fact was -5.

The pair EUR/USD had decreased amid the Germany government bond yields decrease regarding to the US and the UK counterparts. The Germany producer price index fell by 0.5% in August (the forecast was 0.3%). The euro decline can be justified by the France Moody's rating change from "Aa1" to "Aa2" because of the weak economic growth and high public debt.

The pair GBP/USD had finished the trades with the quotations decline amid the Rightmove house prices index weak data. According to the Rightmove portal operator real estate brokerage, the UK initial housing prices increased by 0.9% (2.55 thousand pounds) - up to 294.834 thousand pounds in September 2015. The dollar strengthened against the pound and the pair continues its decline.

The pair USD JPY had increased amid the "risky assets" demand in the world. Japanese banks were closed due to the national holidays. There are holidays from Monday to Wednesday in Japan. The yen trend is in line with the stock market growth, still the Bank of Japan investors will unlikely dare to attack the upper limit within the strategic range. However, there was the bearish sentiment predominance in the pair by the end of the day.


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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...

Gold prices remained in green

The bullish market structure remained in place on Thursday...

  


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