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 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...

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...

  


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