Fundamental analysis for November 12, 2015

12 November, 2015

Fundamental analysis for November 12, 2015

The European Central Bank monetary policy provides the main influence on the euro aimed at its currency rate weakening. A number of officials’ oratory led by the ECB head, Mario Draghi and the macroeconomic indicators reduction confirmed that the current policy would be continued and even be accelerated. Germany has been published the wholesale price index of little importance, the US has published the mortgage lending index.

The British currency purchases started yesterday. Great Britain has published the number of jobless claims (3,3K), the unemployment (5,3%) and the average wages level (3,0%). The positive forecasts made traders buy pounds at night. Besides, there was Mark Karny's speech yesterday.

The Japanese currency declined a bit. The decrease was caused by the lack of important statistics. Japan did not publish important news yesterday. It became known the Japanese machinery and equipment orders changes by 23.1%. However, investors did not react to this report. Investors need something more interesting and important for active actions. The pair dollar/yen is trading in a flat.


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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...


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...

  


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