Fundamental analysis for October 21, 2015

21 October, 2015

The euro is still under pressure in the run-up to the ECB meeting. After the ECB meeting, the investors will wait for the Fed meeting results which will be held on October 27-28. The Fed officials give contradictory comments: some of them speak about the need to raise the interest rates this year, some of them want to change the rate when the USA economy is more stable and strong.

At the beginning of the week the pound was able to increase slightly amid the UK government bond yields growth relative to their US and Germany counterparts. The Bank of England governor’ speech supported the pound. McCafferty said that the rake hike was necessary and the hike would be gradual.

The pair USD/JPY is showing symbolic growth amid the moderate demand for the "risky assets" which put pressure on the Japanese yen as the funding currency. Also, investors’ attention is paid to the US API crude oil and the number of building permits publication.

The Australian Reserve Bank Monetary Policy Council last meeting (October 6) minutes noted that there was a correct decision to leave the rates unchanged at the October meeting. The Australian dollar decline supports the system balance change in favor of escape from the extractive economic nature.


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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...


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...

  


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