Fundamental analysis for October 28, 2015

28 October, 2015

The pair EUR/USD decreased by 0.3% amid the short positions profit taking. The pair GBP/USD finished the trades with the quotations decrease by 0.35% amid the September US new home sales negative release. The pair USD/JPY decreased by 0.35% by the end of the day amid the carry trade closure which caused the demand for the yen as a funding currency.

The morning course of the trades was determined by the debt and equity markets dynamics. Yesterday the credit markets German 10-year government bond yields rose up relative to their US and the UK counterparts, which is a positive factor for the single European currency. The world leading stock markets showed a moderate correction movement, however, demand for the "risky assets" is still preserved.

The main event of the day was the third quarter UK GDP release report. There was the third quarter service sector growth rate slowdown, this sector is the basis of the UK economy. According to the Markit Economics PMI data, the manufacturing sector also showed a decrease compared to the previous quarter. The negative factor is the state budget gradual reduction, which reduces the multiplier effect in the economy.


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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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