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.


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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...


Gold reached three-month highs

Spot gold remained on strong bullish footing on Friday. After an Asian flat the price got an upward impetus in the European morning...

The euro is under pressure amid growing concerns

The single currency regained a minor portion of its losses in the Asian session on Wednesday. The pair was able to reach 1.0550. However, the selling pressure around the euro remained unchanged pushing the spot to fresh lows...

EURUSD is having difficulties to go any higher

The dollar fell on Friday amid a light market due to US President's Day. Investors are monitoring the US political situation and waiting for a decision on financial aid to Greece...

  


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