Fundamental analysis for December 08, 2015

8 December, 2015

The labor market figures signal that the Fed interest rates increase on December 16th is quite possible. 509 thousand of new jobs have been created in the US economy, the average earnings increased by 0.6%. Such data can be regarded as inflationary which allows the FED to increase the discount rate since 2006.

The pair euro/dollar has shown a relative stability after the US last week important release, feeling the support after the ECB meeting results when the regulator limited the deposit rate decrease and prolonged the buying assets program for seven months. The Germany good data supported the euro as well: the industrial orders sharply recovered by 1.8% m/m after 0.7% decrease the previous month.

The Sterling is very much pinned downwards (the price has fallen down by 3.3% for the last month). There is one week before the US Federal Reserve meeting now it is the time for an upward correction. The commodity market instability is supporting the US dollar which also had a negative impact on the pound.

Japan has reported about the average wage size increase by 0.7% in annual terms which exceeded the traders’ expectations. The wage growth is an inflation indicator which has traditionally a positive impact on the national currency. However, investors ignored the positive release - the Japanese yen strong strengthening did not happen that indicates the strong buyers presence. The pair dollar/yen showed a growth by the end of the trades.


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Brent maintained its ask tone

Sellers continued driving the benchmark lower after a brief pause at 50.80 dollars per barrel...

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...

  


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