Fundamental analysis for December 17, 2015

17 December, 2015

The Markit published the December German manufacturing sector business climate report. The data came out at the forecasted median at the level of 53,0. The indicator has been growing for two months amid the euro weakening which has strengthened the German products competitiveness abroad. The US Federal Reserve monetary policy decision drew the market attention yesterday. The FOMC raised its rate by 0.25% to 0.50% having noted the strong upward trend in the labor market. When the oil market stabilizes –the US population income growth will put upward pressure on inflation expectations. The pair euro/dollar decreased by the end of the trades.

The UK and the US inflation releases determined the "bulls" and "bears" battle results. The UK inflation showed 0.08% against 0.77% in 2015. The inflation dynamics was not in favor of the United Kingdom the previous month: the US CPI growth rate was 0.16% against 0.74% for the ten months. The UK National Statistics Office published the labor market release. The average wages level gained 2.4% instead of the forecasted 2.5%, while the unemployment rate rose by 5.2% when the forecast was 5.3%. The pair pound/dollar fell by the end of the day.

The world's leading stock markets corrected after massive sales. The short-term uptrend is continued putting pressure on the Japanese yen as a funding currency. The dollar index basket dynamics (USDX) pointed to the US currency phase correction which is over now and now we expect the further long-term uptrend. The pair dollar/yen showed a growth.


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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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