Fundamental analysis for December 11, 2015

11 December, 2015

Fundamental analysis for December 11, 2015

The US published jobless claims report. According to the US Labor Department the initial jobless claims number became more than forecasted 269 thousand having increased to 282 thousand. We believe that the EUR/USD pair correctional phase has approached to its end. The United States pleased traders with the retail sales strong data cheering "bears" to short. The US and the Germany government bond yields have grown which increased the investment’ attractiveness in the US assets. Markets expect that the FOMC will raise its key rate by 0.25% on December 16th which strengthened the Fed and the ECB monetary policy divergence that will contribute to the single European currency reduction. The pair euro/dollar showed a decrease by the end of the trades yesterday.

The UK government bond yields rose relative to their US and Germany counterparts which supported the demand for the British assets. The Bank of England monetary policy meeting has been held. The UK inflation has been 0.16% for the first ten months of this year which is 0.62% less than in the same period in 2014. The labor market is showing a stable positive dynamics at the same time: the unemployment rate for the first three quarters of this year decreased by 0.4% to the mark of 5.3% while the average earnings growth for the third quarter amounted to 3% in annual terms. The pair pound/dollar slightly decreased.

The Japanese and the US differential government bond yields increased the investment’ attractiveness into the US assets supporting the demand for the dollar. The high-tech sector was the decline leader in the North American and European equity markets and the growth leader was the "protective" communal sector. However after a short-term growth the pair dollar/yen decreased.


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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...

Gold prices remained in a consolidation phase

Sellers led the spot to 1250 the other day but failed to break below the level. The price remained sandwiched between 1250 - 1255...


DAX grew amid a fresh buying interest

European stocks opened in green when markets recovered from Trump’s failure in Congress. Investors focused on Brexit...

Pound reached its monthly high

The pound remained in an upward channel on Tuesday. The price pulled back from its upper limit...

Brent maintained its ask tone

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

  


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