Fundamental analysis for October 13, 2015

13 October, 2015

At the beginning of the week the macroeconomic background is once again in the dollar favor. As for the investors’ escape into the euro while the Chinese data is deteriorating, it may happen only when we have shock events or when the investors escape from the carry trade market.

The pair euro/dollar has increased. The French August industrial production showed growth by 1.6% against the growth expectations by 0.6%. Investors, however, ignored the French budget deficit decline to -87.7 billion euros against -79.8 billion in July and the Italian industrial production decline by 0.5% - while it was expected 0.3%.

The pair GBP/USD remained in a flat. The UK August trade deficit was 11.1 billion pounds against -10.0 billion and the previous indicator declined to -11.1 billion from -12.2 billion pounds. The UK construction sector fell by 4.3% against the growth expectations by 1.0%.

The dollar/yen was in a flat the whole Monday. The September import price index correction (-0.1% vs. -0.5%) and the wholesale inventories increase to the predicted level of 0.1% in August slightly supported the dollar.

The week started Japanese, the USA and Canadian holidays. The political component of the day was the Fed representatives Charles Evans and Lael Brainard's speeches. Evans supports the interest rate hike this year, Brainard is not inclined to raise the rates this year.


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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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