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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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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