Fundamental analysis for January 28, 2016

28 January, 2016

Fundamental analysis for January 28, 2016

The market was able to develop immunity towards the Chinese stock market bad news. The Chinese index again lost more than 6%, still only the gold reacted to this news with a growth the rest currencies remained at their positions.

The US economic data came out neutral. The January service sector business activity index came in at 53.7 versus the December value of 54.3. The forecast was 53.9. The consumer confidence index from the Conference Board showed an increase from 96.3 to 98.1.

As expected the Fed statements were quite "dovish". The regulator is concerned about the further economy development and does not exclude the further rate hike in March.

Investors stake on the dollar strengthening. According to GfK the Germany consumer confidence index surfaced a decline from 9.4 to 9.3 in February. According to the BBA the December Mortgage Approvals showed 43.975Kwith the expectations of 45K. The December New Home Sales came in at 0.544M.

The Japanese yen is growing on expectations that the Friday Central Bank meeting will be a soft one.


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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...


Brent found a solid support after two day decline

Oil prices slightly rose on Friday morning due to the dollar's retreatment. However, Brent further growth was limited on the news that Russian oil production for February did change comparing to January...

Gold prices slightly fell

Gold prices retreated from fresh highs and spent the day in a consolidation. Sellers drove the spot to 1250 where the precious metal stayed in a tight range during the European session...

Oil prices recovered back

Oil prices rebounded from the oversold zone in the Asian session. Sellers failed to regain 55.50 and gave the way to buyers. Buyers took a chance and had reversed all Friday' losses by the Monday's noon...


Gold reached three-month highs

Spot gold remained on strong bullish footing on Friday. After an Asian flat the price got an upward impetus in the European morning...

The euro is under pressure amid growing concerns

The single currency regained a minor portion of its losses in the Asian session on Wednesday. The pair was able to reach 1.0550. However, the selling pressure around the euro remained unchanged pushing the spot to fresh lows...

EURUSD is having difficulties to go any higher

The dollar fell on Friday amid a light market due to US President's Day. Investors are monitoring the US political situation and waiting for a decision on financial aid to Greece...

  


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