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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Gold reversed some losses

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Pound tested 1.3200 and stopped

The buying interest persists in the market. All technical indicators are positive supporting buy orders. The resistance lies at 1.3300, the support comes...

Brent failed to approach 49.50

Sellers kept driving the benchmark lower the whole night and found an obstacle at 48.50. The resistance lies at 49.50, the support lies in at 48.50 dollars...

DAX index turned bearish

The benchmark broke 12600 first and then weakened down to 12527. Bulls returned control in the early European session and returned the price to 12600...


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