Fundamental analysis for November 10, 2015

10 November, 2015

The European currency declined amid the German weak macroeconomic news and the overseas different statistics. Now the chances of the US December monetary policy tightening are inexorably growing. One of the main Fed rate hike conditions is the labor market stable state. The US dollar can reach the price parity with the European currency in the short term. The Germany published the imports, exports and trade balance data on Monday which amounted 3,6%, 2,6% and -0.740М. Amid these data the euro slightly strengthened.

The pound came under the massive sales after the industrial production report publication. The pound fell by 0.2% in September. A sum of the US labor market and unemployment statistics had a bombshell effect. The UK and the US calendars were empty on Monday. Thus investors had to focus their attention on technical factors. By the end of the day the pound increased.

On Friday the Japanese currency also came under pressure. The US News has been published and it was the main reason of demand for the US dollar. Nothing important happened in Japan. On Monday early in the morning it became known that the wages level rose up by 0.6% amid the lower forecasts. However, it was not clearly enough for a substantial demand for the Japanese currency. Only by the end of the day the pair slightly decreased.


Source link  
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

The preliminary estimate of the consumer price index in November rose to 1.5% from 1.4%. The data turned out to be less than expected...

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...

  


Share: