Fundamental analysis for January 07, 2016

7 January, 2016

Fundamental analysis for January 07, 2016

Investors keep buying the dollar. Trading volumes are higher than in the same days last year. The euro area employment data pleased traders. The Spain unemployed number decreased by 55.8 thousand. vs. expected of 52.6 thousand. The same index is 55.8 thousand in Germany. The forecast was 52.6 thousand. The pair euro/dollar showed a slight growth.

The UK debt market is now set against the bulls: the 10-year UK government bonds yield is reduced relative to their US and Germany counterparts reducing the Cable investments attractiveness. By the end of the trades the pair pound/dollar decreased.

Now investors are more alarmed of the Chinese economy state than six months ago, having started buying the dollar. China conducted a currency intervention at 19.9 billion dollars to support the yuan. The operation was a success - the dollar fell from 6.54 yuan to 6.52. As about the pair dollar/yen – it showed a slight decrease.

The commodity currencies again suffered from the Chinese economy weak data releases. Australian and New Zealand dollars fell most of all.


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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...

  


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