Fundamental analysis for December 07, 2015

7 December, 2015

Fundamental analysis for December 07, 2015

According to the Fed governor Janet Yellen the too long interest rates growth delay creates certain risks. The FED governor once again noted the labor market positive dynamics which would contribute to the inflation target level completion in the long run.

The NFP was last Friday main event. The report came in better than it was forecasted that may become an additional reason to hike the rate on December 16th. In economic news, the ISM services and manufacturing sector releases came in at the level of 200 thousand.

The ECB decision to increase the stimulating package by 420 billion euro to 1 April 2017 caused the market mixed reaction. Instead of the price reduction the strong growth was observed. Analysts believe that the current dollar sales wave is just a correction as the market has achieved considerable highs. The ECB decision is a negative factor for the euro in the medium term as the QE program increased by 41%.

The pair GBP/USD also showed an impressive growth amid the US currency general weakness. The UK statistical support gave additional support to the pound. The November service sector business activity index rose sharply to 55.9 from 54.9 while analysts had expected a modest increase up to 55.0.
The USD/JPY could not resist the widespread dollar sales wave. Still the pair managed to grow after a sharp decrease earlier.


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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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