Fundamental analysis for December 25, 2015

25 December, 2015

Fundamental analysis for December 25, 2015

The Euro ignored the negative background amid the increasing demand for the "risk assets" - the world leading stock markets showed growth from 2% to 4%. The US published the third quarter GDP moderately positive macroeconomic data, durable goods orders, personal consumption expenditure and the new buildings sales; however, it did not bring the desired dividends to the dollar. On Thursday the German banks were closed, the US trading session ended few hours earlier. The trades on the pair EUR/USD closed with a growth. There were not any trades on Friday. The whole Western world celebrated Christmas, the most important holiday of the year.

The UK National statistics office revised the UK GDP second estimate for the third quarter from 0.5% to 0.4%. The economic growth rate has been 2.4% for the first nine months, compared to the same period last year. There was the UK clear economic slowdown. The construction and manufacturing sectors were the most vulnerable sectors which decreased by 1.93% and 0.22% respectively in the third quarter of this year. The US third quarter GDP growth also slowed down. Last year the UK was ahead the United States by 0.5% and this year it falls short by 0.1%. The UK government bond yields are growing relative to their US and Germany counterparts which increases the investments’ attractiveness in the British assets. The commodity market prices stabilization is also plays into the "bulls" hands now. The pair pound/dollar increased by the end of the trades.

The important macroeconomic releases that could act as a driver for the dollar or the yen have not been published. In general, the United States pleased traders with the positive macroeconomic statistics, but investors have completely ignored the positive news background which indicates the lack of interest in the dollar. The BoJ Governor Kuroda confirmed the Bank commitment to do what it was necessary to overcome the deflation, planning to achieve the 2% inflation target. The pair dollar/yen closed the trades with a decrease.


Source link  
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...

  


Share: