Fundamental analysis for November 24, 2015

24 November, 2015

The November Germany manufacturing sector business climate report has been published by Markit Economics. The data output was at the level of 52.00 which indicates the moderately positive dynamics and shall give a short-term support for the single European currency. The employment and average earnings growth with the interest rates reduction on 30-year mortgages allowed banks to increase the mortgage lending in October. In this connection, the data is expected to be a little better than the forecasted medians, the data came out at the level 52,6. It is impossible to ignore the ECB President Mario Draghi’s speech last week. The ECB governor told: "We'll do everything we need to do for the early inflation rising". The pair euro/dollar was trading in a side corridor.

Now the debt market dynamics is on the bears’ side in the pair GBP/USD: the UK government bond yields have been declining for last three trading days relative to their US and Germany counterparts which reduces the investments’ attractiveness into the British assets. Last week CBI again reported about the industrial orders volume reduction and the negative trend has been lasting for seven months in a row. The pair pound/dollar continued its decrease.

The Japanese and the US government bond yields have been declining for last two trading days which increases the investments’ attractiveness into the Japanese assets. The dollar was supported by the "black gold" market pessimistic sentiments: the Baker Hughes release was not able to provide strong support to the oil quotations, despite the fact that the number of drilling rigs decreased by 10 units. The pair dollar/yen fell by the end of the trades.


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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...

Brent remained rather unchanged

There seems to be little drive for any real direction now. Brent remained rather unchanged on Thursday staying in a tight range above 55.50 dollars per barrel. The Asian upward impetus lost it legs when European markets opened...

  


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