Fundamental analysis for January 29, 2016

29 January, 2016

Fundamental analysis for January 29, 2016

The US Federal Reserve is concerned about the financial market turbulence. The Fed statements did not have any effect neither on the EUR/USD pair nor the other assets.

The EUR/USD trades were restrained yesterday - investors continue to evaluate the Fed two-day meeting results, the first one in the new year.

Germany has surfaced the inflation preliminary data whose growth rate may accelerate from 0.3% to 0.5%. The ECB is cautious about its quantitative easing program, as the Germany inflation dynamics is relatively well. The data came in at the forecasted median. By the end of the trades the pair euro/dollar showed a growth.

The Initial Jobless Claims number showed - 278000. The forecast was 282000. The labor market is relatively stable, even though all visible signs of long-term unemployment growth are seen which has a negative impact on the overall unemployment level. In addition, the expected durable goods declined by 0.6%. However the decline was 5.1%.

Yesterday the UK 4th quarter GDP was published. The GDP growth rate was 2.27% for the first nine months of 2015, as it was forecasted. It is worth noting that the first nine months of 2014 the growth rate was 2.87% which indicates the UK economic slowdown phase. The data came in at the forecasted median. The pair pound/dollar increased by the end of the trades.

The USD/JPY pair is still trading in a narrow channel. However, concerns that the Bank of Japan will announce the next mitigation measures at the end of the two-day meeting are putting pressure on the yen. Japan published the retail sales which decreased by 1.1% in comparison to the same period in 2014.


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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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