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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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

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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...

  


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