Fundamental analysis for October 20, 2015

20 October, 2015

The China GDP better-than-expected data decreased fears related to the fact that the Chinese economy may experience a hard decrease and pull the world economy down. Investors paid more attention to the GDP macroeconomic indicator and the European stock market trading wave started on the positive note as the US dollar is supported against the euro.

The market is awaiting whether the ECB begins to extend the existing measures in September to support the economy. The bears dominated at the market yesterday, the pair EUR/USD was decreasing the whole day.

The British economy positive development still allows "bulls" to keep the currency in the area of the earlier reached highs.

The Chinese positive news supports the US bond yields, which markedly fell last month amid the sharp expectations reduction, concerning the US rate hike. However, the yen is trading without any changes. The USD/JPY is in a flat now.

Relative to the US dollar, the Australian dollar is growing due to the quotations growth after the Chinese Statistics publication.


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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...

Gold prices remained in a consolidation phase

Sellers led the spot to 1250 the other day but failed to break below the level. The price remained sandwiched between 1250 - 1255...

DAX grew amid a fresh buying interest

European stocks opened in green when markets recovered from Trump’s failure in Congress. Investors focused on Brexit...


Pound reached its monthly high

The pound remained in an upward channel on Tuesday. The price pulled back from its upper limit...

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...

  


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