Fundamental analysis for November 04, 2015

4 November, 2015

The first part of the week was marked by the currency market sluggish uninteresting trade in narrow side ranges. One of the low volatility reasons was the lack of important economic data. Another factor that made traders wait and see was the US employment report which would appear in the coming Friday. In these circumstances, the dollar has grown up very slightly against all of its major opponents.

The Eurozone news has shown good results. The manufacturing sector last figures were revised in the growth direction, still it did not affect the European currency traders. The market's attention was drawn to the ECB President Draghi, who said that the level of monetary policy stimulation should be reviewed at the December meeting.

The British pound showed the most prominent multidirectional volatility among the majors, but also, like the other major currencies, was closed with a decrease against the dollar. The pound was supported by the UK manufacturing activity strong data – the PMI index rose up to 55.5 in October from 51.8 in September while it was expected to see a decrease by 51.3.

The pair USD/JPY was traded within the overall market sentiment and also remained in the narrow side range. The Japan stock markets Nikkei index decline put slight pressure on the dollar. However, the US dollar leveled these losses and was able to achieve a slight increase by the end of the day in the European and American sessions.


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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...

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...

  


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