Fundamental analysis for December 15, 2015

15 December, 2015

Fundamental analysis for December 15, 2015

Still the US macroeconomic data is encouraging. Despite the commodity market sales, the November PPI was better than the consensus forecast. The retail sales report was in line with the traders’ expectations, still the "control group" indicator which is closely correlated with the PCE index came in at 0.2% higher than the consensus forecast. The indicator had risen to 0.8% for the first two months of the fourth quarter which forms a stable foundation for the quarterly GDP strong data.

The euro is in demand as a funding currency before the FED meeting. The October euro zone industrial production release has come out at the level of 0,6% against the forecasted 0,3%. The manufacturing sector PMI came in within the consensus forecast. The negative factor for the European industry was the euro strengthening by 4.2% in the second and third quarter which caused the products competitiveness decrease. The ECB President Draghi supported the bond purchases program on Monday. In addition, he noted that the regulator was ready to use all the policy instruments to achieve the price stability. The pair euro/dollar increased by the end of the day.

The lack of the US and the UK important macroeconomic statistics drew our attention to the debt and commodity markets. The UK and the US government bond yields showed a moderate reduction. The oil and industrial metals ended the trading week in a red zone. The markets may remain volatile till the FED meeting on December 16th. The pair pound/dollar decreased.

The Japan manufacturing sector is now experiencing some difficulties amid the Chinese economic growth slowdown as well as the new orders reduction. It is impossible to ignore the world leading stock exchanges sales. The pair dollar/yen continued the decrease.


Source link  
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...

Gold prices remained in green

The bullish market structure remained in place on Thursday...

  


Share: