Fundamental analysis for September 29, 2015

29 September, 2015

On Friday the US dollar continued its winning streak and ended the week with the quotations steady growth against its major competitors - the dollar index basket (USDX) closed the trading day around 96.36. However, the new week began with the dollar decline against other currencies.

According to the data, published at the end of the last week, the 2nd quarter US GDP final assessment was better than expected: 3.9% vs. 3.7%. As a result, the annual growth rate is 2.25%. The final assessment was better than the first two estimates and better than expected. Now investors are waiting for the US new statistics, including the labor market state in order to confirm their rate expectations. The dollar also found some support after the Federal Reserve governor Janet Yellen said the last week that the US central bank kept plans to raise interest rates this year.

The pair EUR/USD had decreased amid the German government bond yields decline relative to the US and the UK counterparts. However, the week began with the fact that the euro has taken a confident northern movement.

The pair GBP/USD finished the trades with the price decline amid the 3rd quarter US GDP positive data. If in the first half of the day the bulls were in trend in the second half the bears took over the initiative.

By the end of the last week, the USD/JPY pair had increased amid the US and Japan government bond yields increase. Nevertheless the pair closed the trades with decline on Monday


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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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