Fundamental analysis for October 30, 2015

30 October, 2015

The US Federal Reserve meeting has been already held and it's time to sum up results. The monetary authorities kept interest rates unchanged and pointed out to the December rate hike possibility. It should be noted that the FED has been promising to change the policy since June so it was not obviously a new event for financial markets.

Our attention was drawn to the UK September mortgage lending publication. The labor market positive dynamics (the unemployment reduction and the average earnings growth) with the mortgages interest rates decline point out to the positive data output. Against this background, the British currency gained short-term support.

During the day, the "bullish" sentiment dominated within the pair USD/JPY for two reasons. Firstly, the Asian trading session industrial production data were published that put pressure on the Japanese currency. Secondly, the PMI production sector decline with the factory orders decrease did not allow investors to count on the strong data output.


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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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