Fundamental analysis for November 16, 2015

16 November, 2015

The European and the US economic releases alongside with the monetary authority’s comments caused a vivid dynamics for the major pairs. The Eurozone and the region countries published the third quarter GDP data. The Europe has published the trade balance report. Besides the US minor release, players have paid their attention to the retail sales where the monthly indicator increase was expected.

The main blow to the euro came from the ECB President M. Draghi who "promised" to revise the buying assets program in December, having noted the inflationary risks weakening due to the single currency recent strengthening. Another reason for the sales was the euro zone industrial production weak data which fell by 0.3% in September against the expectations by -0.1%.

The pair EUR/GBP declined amid the euro widespread sales contributed to the GBP/USD quotations recovery after a decrease. In the absence of the UK releases the pair focused on the dollar rate behavior.

The pair USD/JPY experienced a lack of growth dynamics. The trades were little revived after the Fed speech, which have not made significant corrections to the market expectations, although it slightly undermined the dollar positions which calculated on the aggressive statements.


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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...

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...

  


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