Fundamental analysis for November 26, 2015

26 November, 2015

There is a long weekend in the USD amid the Thanksgiving Day celebration. According to the US Labor Department the initial jobless claims number became less than forecasted 273 thousand having fallen to 260 thousand.

The euro continued its sluggish recovery against the US dollar. The Germany GDP increased by 0.3% in the third quarter. The Germany economic expectations, business optimism and the current situation assessment indices were higher than the predicted values. The US GDP report was revised upwards to the mark of 2.1%. However, the pair euro/dollar fell by the end of the day.

The UK calendar was empty and investors had to focus their attention on the US data. The course of trades was determined by the debt and the equity markets dynamics. The Bank of England Governor Mark Carney’s speech excited the market a little bit as he noted the inflation decrease and the possible soft monetary policy period extension. The pair pound/dollar slightly increased.

The third quarter US GDP got the US and Japan government bond yields to increase. The Japanese currency continued to grow against the US dollar, despite the good overseas statistics. The yen regained its reserve currency status amid the risky assets escape. However, the pair dollar/yen closed the trades with a growth.


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Gold price reached important target

The prices have reached their important target of 1260 and this was only a bounce and a correction of the downtrend...

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...

  


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