Fundamental analysis for December 29, 2015

29 December, 2015

Fundamental analysis for December 29, 2015

The major pairs were traded without significant drivers. The pair EUR/USD showed the bullish sentiment on Monday. Last week, investors completely ignored the positive news flow on the US dollar which indicates the strong buyers presence. The important macroeconomic statistics is not expected before the NY and the bulls are trying to disperse the quotes up on less liquid markets. The trades on the pair euro/dollar closed with a growth.

The pound remained under pressure amid a general distancing prospects of the Bank of England rate hike. Traders expected it to happen in the first quarter of next year. However, the weak UK statistics brought some changes in the forecasts. The UK published the secondary housing market report - according to the BBA, the number of approved mortgage loans fell to 44,960 from 45,463 vs. 46,200 in the country. The pair pound/dollar fell by the end of the trades.

The initial catalyst for the yen strengthening was the Kuroda's comments where he expressed confidence that the economy was on track to achieve the 2% target level of consumer prices. However, he made it clear that the regulator would continue to stay within the QQE framework. The pair dollar/yen showed a slight decrease amid this background.


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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...

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...

  


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