Fundamental analysis for December 23, 2015

23 December, 2015

The market attention was focused on the US statistics. The third quarter final GDP data was expected not be revised downwards and would remain at the same level as it was noted in the second release. The strong labor market helped the private consumption to increase which is a welcome factor for the US economy. However the data came out at he level of 2% against the forecasted 1,9%. The secondary market home sales data can also be a pleasant surprise. The November mortgage lending volume was 1.26% compared to the previous month that indicates that the real estate sales increase, both primary and secondary markets. However the data came out at the level of 4,47M against the forecasted 5,35%. The pair euro/dollar showed a growth by the end of the trades.

The key factors point out to the downtrend continuation. Firstly, the US and the UK government bond yield are expanding which increases the investments’ attractiveness into the US assets and it will contribute to the dollar demand. Secondly, the Brent crude is now trading near the 11-year low which is also a positive factor for the US dollar as the raw materials cost denominated in dollars. The pair GBP/USD decreased by the en of the trades.

The pair USD/JPY declined again, having continued last Friday's decline, although at a slower pace. Initially, all Japanese economic sectors activity index report which grew by 1.0% after decline by 0.2% supported the yen.


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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...

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...

  


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