Fundamental analysis for November 20, 2015

20 November, 2015

The US Federal Reserve meeting minutes could not disappoint investors. Most the Fed managers expect the necessary conditions to the interest rates increase to be achieved by the December meeting. There was the risks reduction that was caused by the trading partners’ economic slowdown. The fundamental background is still negative for the single European currency. However, the pair corrected upwards yesterday.

The UK and the US government bond yields expanded in favor of the latter which reduces the investments’ attractiveness into the British assets. The commodity market showed the "bearish" sentiment that supports the US currency. Nevertheless, the pound strengthened against the dollar.

The US inflation short-term forecast was revised towards the positive direction; the medium-term view remains the same. Against this background, the dollar index basket (USDX) strengthened. Japan is in the technical recession, due to many factors, one of which is the China business activity slowdown which is one of the Japan leading trade partners. The Bank of Japan meeting was held where the country monetary policy was discussed. The bank decided not to change it.


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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...

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...

  


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