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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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

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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...

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...

  


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