Fundamental analysis for December 30, 2015

30 December, 2015

We highlight the Conference Board consumer confidence report. The December Michigan University indicator showed growth against the strong labor market background, allowing to count on the Conference Board positive data output. The data came out at the level of 96,5p. that is better then forecasted 93,0p.

The stock exchange showed some pessimism: the banking sector became the decline leaders. This factor supported the demand for the euro as a funding currency. The trade is still sluggish due to the low-liquid market. However the pair EUR/USD slightly fell.

London bank reopened its doors for customers. Given the low liquidity and lack of important macroeconomic statistics, investors pay attention to the commodity market dynamics, especially in the "black gold". The Brent determines the Cable course of trading. The pair GBP/USD closed the trades with a decrease.

The Japanese macroeconomic statistics once again upset the traders. The statistics showed a personal consumption decrease in November which is a negative factor for the economic growth. The industrial production decreased by 0.3%. However, the Old World and North America leading stock markets pessimism prevails that is a positive environment for safe assets which traditionally includes the Japanese yen. The pair USD/JPY is trading in a flat


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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...

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...

  


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