Fundamental analysis for January 08, 2016

8 January, 2016

There was a quite volatile trading day yesterday. The dollar showed mixed dynamics against its major rivals. Traders still do not prefer to risk as they do have concerns to worry about. They are global economy slowdown, low oil price and the Chinese economy.

Soft Fed meeting minutes weakened the US currency. The regulator expressed his concerns about the inflation, the strong dollar which triggered the greenback sales. The US published the initial jobless clams (277 000 against the forecasted 275 000).

The euro got some support after the risky assets sales. However, the US strong labor market data gave new strength to the dollar. According to ADP, the December private sector employment level increased by 257 thousand. These figures are much higher than the forecast and the previous value of 192 thousand. However after the USA new statistics the pair euro/dollar strengthened.

A series of weak economic data postpones the Bank of England rate hike which exacerbates the divergence rate of the BoE and the Fed. That is another long-term negative factor for the Sterling. The trades closed with the pair GBP/USD decrease.

The USD/JPY accelerated its decline after the Fed meeting minutes’ publication. The price moved further down. The risk factor always plays into the Japanese yen hands


Source link  
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...

  


Share: