Fundamental analysis for November 09, 2015

9 November, 2015

Fundamental analysis for November 09, 2015

The whole last week the dollar was in demand and has increased. The pound was an outsider last week, it fell against the dollar and other majors after it became clear that the Bank of England would not soon increase the interest rates.

The US currency strengthened against the yen amid the growing expectations about the US policy tightening. The pair was under the US statistics influence. There was not so much statistical data, the last week unemployment benefits information pointed to the jobless claims increase by 16 thousand to 276 thousand which was worse the expected 260 thousand. But it did not upset the market, because this level is attesting the labor market improvement. The NFP came out better then expected. That again supported the dollar. The data came higher than expected 185 thousand. The number of employees amounted to 271 thousand.

The dollar suffered slight losses within the USD/JPY that were caused, obviously, by the technical factors, which provided support to the European currency at the strong support levels. The Fed top management speeches had little impact on the market events as the most speeches did not affect the monetary policy topic, but the banking system regulatory issues. However, the Atlanta Fed President Lockhart D. allowed himself some hints regarding the December interest rates increase, saying that there will be more reasons to increase the rate on the eve of the December.


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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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