Fundamental analysis for November 30, 2015

30 November, 2015

The pair EUR/USD continued its lateral trend amid the lack of important macroeconomic statistics, as well as the low liquidity due to the Thanksgiving Day in the United States. The global equity market shows an upward trend, the Germany high-tech sector was the growth leader. This factor signaled abound the "risky assets" demand which had a negative impact on the euro as a funding currency. According to the dollar index, the quotations were near the psychological level of 100.00.

The third quarter UK GDP came out. The data is at the forecasted level: 0,5% (q/q) and 2,3% (y/y). The third quarter unemployment rate decreased by 0.3% to the level of 5.3%. This is the highest rate of the unemployment decline in 2015. The average wage increased by 3% on an annualized basis in this period which indicates the household spending growth and is a welcome factor for the economic growth. The data output at the level of 0.6% supported the British currency. However by the end of the trades the pair GBP/USD decreased.

Japan has published a bloc of important macroeconomic statistics where the inflation: 0,0% (y/y). The CPI has increased by 0.58% for the first nine months of this year while the average earnings grew by only 0.25%. Thus, the population real incomes have reduced and in that respect, the Bank of Japan governor H. Kuroda told about the weak wage dynamics at the monetary regulator last meeting. The Japanese 10-year government bond yields which reflect the inflation investors' expectations fell by 4 bp in October. By the end of the trades the pair dollar/yen slightly increased.


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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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