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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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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