Fundamental analysis for October 09, 2015

9 October, 2015

The US currency tried to strengthen against its major competitors – the dollar index basket (USDX) closed the trades at the mark of 95.65. Investors' attention is directed to the US Labor Ministry jobless claims weekly report. The forecast was 274K vs. 277K the previous week. The index showed 263K.

By the end of the day the pair EUR/USD had increased amid the Germany and the US government bond yields increase. The Germany industrial production negative indicators were published and left the euro no chance for the expected correction continuation. The August German Industrial Production fell by 1.2% against the growth expectations by 0.3%. During the day, the pair showed mixed trading, maintaining the upward movement.

The pair GBP/USD had increased amid the August UK industrial production strong data. The UK macroeconomic indicators were even better than expected and the British pound continued to rise. Industrial production showed growth by 1.0% vs. 0.3%. Investors are studying the Bank of England last meeting minutes. Mr. Carney said that inflation remains below 1% until the spring of 2016. The pound/dollar continues to show north course.

The pair USD/JPY closed the trading day with the quotations decrease amid the demand increase for the "risky assets". The foreign markets power and the Bank of England neutral rhetoric are not sufficient for the USD/JPY growth when the Japanese economic indicators decline. The own negative Japanese data turned out to be stronger. The pair is in flat, against a background of weak southern movement.


Source link  
Mixed sentiment takes on in Asia

Asia markets were mixed on Monday, following a strong lead from Wall Street last week as market players looked ahead to fresh economic data, while...

Euro is firm at current levels

The preliminary estimate of the consumer price index in November rose to 1.5% from 1.4%. The data turned out to be less than expected...

Gold reversed some losses

The softer tone in the US Dollar allowed gold prices to reverse some losses. Buyers broke the upper limit of the selling channel and almost...


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...

  


Share: