Fundamental analysis for December 03, 2015

3 December, 2015

Fundamental analysis for December 03, 2015

Traders take a wait and see position awaiting for the ECB decision on December 4th. The ECB soft monetary policy is giving its fruits: the unemployment decreased by 0.7% from the beginning of the year, while the real GDP has grown for the first nine months by 1.79%. According to the second indicator, the euro zone is behind the US which has increased by 2.53%. The German 10-year government bond yields rose relative to their US and the UK counterparts which gives a moderate support for the single European currency. However the pair EUR/USD is trading in a flat.

As expected the PMI manufacturing sector came out worse than the consensus forecast amid the British goods competitiveness decline. The pair EUR/GBP has dropped by 5% from 1 October to 30 November. We do not expect high growth rates in the 2015 fourth quarter. The UK government bond yields decrease in relation to their US and Germany donds reduces the British assets investments attractiveness putting pressure on the Cable. The pair GBP/USD sharply fell.

The ISM manufacturing sector release disappointed traders with the weak data. The PMI has fallen below 50% the first time for the last three years which indicates the purchasing managers growing pessimism amid the oil and gas sector stagnation as well as the dollar revaluation. After the ISM release publication the US and Japanese government bond yields fell which signals the presence of bears. The pair dollar/yen grew after a decrease.


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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

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...

  


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