Fundamental analysis for October 08, 2015

8 October, 2015

The last trading session macroeconomic statistics played an insignificant role. Perhaps even such political events such as the twelve countries agreement about the Trans-Pacific Partnership, led by the US, had little impact on the exchange rates. In general, the Asian stock markets showed the positive trend. Perhaps the market was once again subjected to speculative pressure amid the overall uncertainty.

The pair EUR/USD finished the trading day with the quotations growth amid the US August trade balance weak data. With forecast -47.40B, in fact trade balance turned out to be -48.33B. The Germany August industrial orders have fallen by 1.8% and the July indicator was revised downwards to -2.2% from -1.4%. The Eurozone retail sector business activity increased from 51.4 to 51.9 in September. The complex of these factors influenced the quotations for the euro/dollar, which showed a decrease during trading day.

The GBP/USD pair had increased amid the Brent oil quotations rapid growth. The UK Halifax house prices index fell in September by 0.9% against the growth forecast by 0.1%. The pair continued its rapid upward movement.

During the day, the pair USD/JPY was trading in the narrow flat amid the "risky assets" moderate demand. The US August trade balance showed deficit of -48.3 billion dollars against -47.6 billion dollars forecast. This has contributed to the weakening of the dollar against the yen, which is shown by trading on the decrease throughout the day


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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...


Gold bounced from its upper limit

We expect the spot to retest 1240 in the short-term. Should sellers succeed they may lead the pair down to 1230. If the level stands the spot...

Gold price reached important target

The prices have reached their important target of 1260 and this was only a bounce and a correction of the downtrend...

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...

  


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