Fundamental analysis for October 29, 2015

29 October, 2015

During the day the euro rate was demonstrating a positive trend against the most world currencies after its decline the day before. Traders were expecting the US Federal Reserve decision about the monetary policy.

The Fed meeting was held on October 27-28. Analysts were sure that the regulator would keep the base rate at its lowest level and would delay the monetary policy tightening till 2016. Their assumptions were correct as the Fed did not change the rates. The FED meeting supported the dollar. Regulator hinted that the next rate hike might happen this December

In the context of some uncertainty investors prefer safer assets. In addition, investors continue to win back the US controversial statistics. Thus, the country durable goods orders volume decreased by 1.2% in September compared to August while analysts expected a decrease by 1.5%.

The Conference Board analytical company said in its turn that the US consumer confidence index fell to 97.6 points in October from the revised September figure of 102.6 points. Analysts predicted the index to be at the initial level of 103 points in September


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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...

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...

  


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