Fundamental analysis for November 17, 2015

17 November, 2015

The pair euro/dollar spent last week in a flat and finished the trades close to the opening prices, having shown the European currency minimal advantage. The October consumer price index (CPI) latest assessment - showed the growth to 0,1% with the forecast 0,0%. The ECB M. Draghi first speech was in the center of our attention. The pair slightly decreased by the end of the trades.

At the beginning of the week the British news main theme will be the inflation report. The statistics will show the consumer and producer prices indicators which will be published on Tuesday. The forecasts suggest that there are some deflation signs and the October consumer price index (CPI) is expected to be unchanged at the level of 0.1% y/y after -0.1% y/y in September while the basic indicator without food and fuel prices remained at the level of + 1.0% y/y. The pound was trading in the flat on Monday.

This week Japan most important economic statistics has already been published. The 3rd quarter GDP preliminary estimate showed the recession signs, the indicator has fallen for the second consecutive quarter by -0.2% q/q after -0.3% q/q while it was forecasted -0.1% q/q. These figures caused a small-scale multi-directional movement in the market that has not changed yet into the directed activity - the price is at the opening level. The pair increased on Monday.


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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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