Fundamental analysis for October 07, 2015

7 October, 2015

The US currency was able to compensate some of the lost positions yesterday. Still the dollar was not able to hold the growing pace and fell. The dollar index basket (USDX) closed the trades at the mark of 96.25. The US Markit Economics service sector business activity final assessment had been reduced: 55.1 versus 55.6. The non-manufacturing sector business activity national index (ISM Non-Manufacturing PMI) showed decrease from 59.0 to 56.9.

By the end of the day, the pair EUR/USD had increased. The euro area macro-economic data came out worse than expected. The September euro area business activity evaluation index turned out to 53.7 against 54.0 of the initial assessment and the unchanged forecast. The August euro area retail sales showed the zero growth against the forecast of -0.1%. Also, European Central Bank President Draghi gave a speech, but it doesn’t relate to the topic of monetary policy. However, after dropping earlier in the week, the pair increased, returning the price to previous levels.

The pair GBP/USD finished the trades with the quotations growth. The UK service sector PMI report turned out to be negative. The UK service sector business activity fell from 55.6 to 53.3 in September (the lowest index over the last two years) against the growth forecast to 56.4. During the day, the pair showed an upward movement, with a slight price correction at the end of the day.

The USD/JPY had increased amid the leading world stock markets growth. Still the price turned down by the end of the day. However, despite this, the "bears" are trying to lower the price, as evidenced by trading on the decrease, with periodic upward price trend during the trading day.


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Pound tested 1.3200 and stopped

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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

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Gold bounced from its upper limit

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Gold price reached important target

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Dollar setback due to recent PCE date

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Gold has jumped to 1265 level

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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...

  


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