Fundamental analysis for September 25, 2015

25 September, 2015

There was a multidirectional trend in the Forex market yesterday. According to the US Labor Department the initial jobless claims number increased to 267 thousand. The forecasted median was 271 thousand vs previous 264 thousand.

The pair EUR/USD had increased by the end of the day amid the EUR/GBP growth as well as the short positions profit-taking. The ECB President Mario Draghi said that "if necessary," the ECB may change the quantitative easing rate. The investors’ reaction was sluggish, but sufficient to close the euro with a plus. Also investors reacted vaguely to the euro area business activity weak indicators. The September manufacturing PMI fell from 53.3 to 52.0 while it was expected 52,0, the service sector PMI fell from 54.4 to 54.0 while it was expected 54.2. The Markit manufacturing PMI came out worse than expected with the preliminary assessment for September: 53.0 vs. 53.3, but, nevertheless, it is the same level as in August.

The pair GBP/USD had decreased amid the UK government bond yields decline relative to the US counterparts. According to the trading day results, the British pound fell. There is only an 18% chance the Fed will raise interest rates in October and 41% in December. After the decrease the pair is consolidating.

The pair USD/JPY had symbolically decreased amid the bearish sentiment in the US stock market which has caused demand for the yen as a funding currency.


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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...

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...

  


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