Fundamental analysis for December 21, 2015

21 December, 2015

Fundamental analysis for December 21, 2015

The Germany IFO Institute release pointed out to the wholesale and retail trade business climate reduction. The manufacturing sector business activity grew this week. The upward trend has been continued. The Germany and the US government bond yields grew as well. The ECB and the Fed December decisions does not leave investors with no choice and sent their capital into the dollar and Treasury bonds purchase. The "black gold" market negative expectations were on the "bulls" hand within the US dollar. The US crude oil stocks have once again increased, the US Congress lifted the ban on the crude oil import. However by the end of the trades the pair EUR/USD slightly increased.

The Cable was not able to strengthen its position against the greenback that indicates the strong sellers’ presence. The November US Core CPI index showed a growth by 2% in annual terms which allowed the FOMC a sigh of relief before the interest rates verdict announcement. By the end of the week the pair pound/dollar slightly fell.

The Bank of Japan monetary policy results have been published. The Bank of Japan corrected the quantitative easing program. The central bank will buy government bonds and shares in the Japanese stock market with an average maturity of 7-12 years government bonds before the repayment period was 7-10 years. The assets purchases annual volume remained unchanged with 80 trillion yen. In addition the Bank of Japan corrects the policy in connection to the oil prices trend changes. The trades on the pair USD/JPY closed with a decrease.


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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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