Fundamental analysis for January 15, 2016

15 January, 2016

Fundamental analysis for January 15, 2016

The dollar showed mixed dynamics with its major opponents. Once again, the stock market set the tone of trading. The American benchmarks were under pressure, the oil went below $30 per barrel, and the safe assets partially recovered.

The German 2015 GDP was published. The GDP showed a growth rate of 1,72% in the first three quarters of last year. The German economy leading indicators, such as the manufacturing and non-production sphere PMI, as well as the IFO index pointed to the fact that the growth rate significantly accelerated in the fourth quarter. The data came out at the level of 1,7% against the forecasted 1,6%. However by the end of the trades the pair EUR/USD decreased.

The Bank of England minutes publication was the main event of the day. The UK interest rates remained at the same level. The weak economic data together with the oil prices decline added headache to Mark Carney and his colleagues. Now no one talks about a possible interest rates increase. The trades on the pair GBP/USD closed a slight growth.

The China stock market downtrend pressured the Asian, Europe and North America stock markets. The United States trades were also under bears’ control: the high-tech sector showed the largest decline. The carry trade positionsñlosing contributed to the demand for the yen as a funding currency. Nevertheless by the end of the trades the pair USD/JPY increased.


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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...

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...

  


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