Fundamental analysis for December 09, 2015

9 December, 2015

The Eurozone GDP third quarter data was published: 0,3% q/q and 1,6 y/y. The September household spending and industrial production reports came out negative. The unemployment rate fell to 0.3% in the period from July to September, but the positive macroeconomic effect will manifest itself with a time lag and the Old World economy will not get high dividends in the third quarter. The pair EUR/USD slightly increased by the end of the trades.

The UK October industrial production data was published. The Markit manufacturing sector business climate pointed to the positive output data. The PMI has reached the highest level for the last 16 months in October amid the industrial output growth. According to the Industrialists British Confederation, we should not count on the industrial production significant growth because of the industrial orders negative balance. The release showed a growth by 0,1% according to the forecasted median. However, the pair GBP/USD closed the trades with a decrease.

The October current account transactions release pleased traders with the strong data. The Japanese and the US differential government bond yields have declined which increased the investments’ attractiveness in the Japanese assets. Traders were cutting "risky assets" positions supporting demand for the yen as a funding currency. The dollar/yen decreased by the end of the day


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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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