Fundamental analysis for October 06, 2015

6 October, 2015

The Friday US Labor data came out worse than traders expected. The September Nonfarm payrolls amounted 142 thousand while the August indicator was revised into the negative side. The average hourly earnings remained unchanged at the level of 25.09 dollars an hour. The market reacted with the dollar decrease to the news that the rate hike is postponed. Investors have reduced the October increase expectations by 6% and the probability of the December increase to 28%. Indeed, now the market is expecting the first quarter rate increase next year.

As a result, the pair EUR/USD finished the trades at the mark of 1.1180. At the beginning of the week investors study the August Eurozone retail sales, the forecast was -0.1%.

The pair GBP/USD finished the trades at the mark of 1. 5150. Investors' attention is directed to the September service sector business activity index and its forecast was 6.4 against the August 55.6.

The pair USD/JPY closed the trades at the mark of 120.50. The Markit service sector business activity index was expected with a growth from 5.6 to 55.7 in the September final assessment, the non-manufacturing sector business activity index (ISM Non-Manufacturing PMI) was expected with decrease from 59.0 to 58.0.


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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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