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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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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