Fundamental analysis for October 23, 2015

23 October, 2015

The market approached the main day of the week with an activity absence. There was a sluggish trade before the ECB meeting. Investors were waiting for the new guidelines and stayed away from the large-scale transactions.

Mario Draghi hinted that the Bank was ready to take additional measures to stimulate the economy to increase the inflation in the euro area.

Draghi said the economic recovery and inflation were likely to be under pressure due to slow economic growth in emerging markets. The euro lost 1.8% when Draghi signaled that the ECB could announce the additional measures easing monetary policy launch until the end of the year. The ECB left interest rates unchanged on Thursday, as it was expected.

The EUR/USD remained in the narrow range before the meeting results announcement and sharply fell on the news.

Lack of support from the economic data and increased uncertainty, connected with the Central Bank leading economies monetary policy prospects continued to affect the pair GBP/USD activity. The pound was in the side range the whole day, but closed the session with the a little heavy losses against the US dollar compared to the other majors. The UK economic data have shown that the public sector net borrowings have been the lowest for the last eight years, 8.6 billion pounds against the previous 10.8 billion pounds when it was expected to see 9.1 billion pounds which can signal about the possible government plans to reduce the budget deficit.


Source link  
Asian equity indexes mixed

Asian indexes were mixed on Thursday following a soft close in Wall Street following a widely anticipated tax reform approval by Congress...

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...

  


Share: