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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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...

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...

  


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