Fundamental analysis for February 01, 2016

1 February, 2016

Fundamental analysis for February 01, 2016

The United States data disappointed traders and became the reason of its weakening. The Initial Jobless Claims number fell to 278 thousand. The Continuing Jobless Claims increased from 2.219 million to 2.268 million which again increases the unemployment risk.

The preliminary Germany inflation data coincided with the forecasts, having confirmed the assumption about the price growth acceleration from 0.3% to 0.5%. The Germany retail sales growth rate is slowing from 2.3% to 1.5%. The trades on the pair EUR/USD closed with a decrease.

According to the UK National Bureau of Statistics the previous year 4th quarter GDP increased compared with the previous quarter. The economy managed to show a growth of 0.5% in Q4, while the same indicator expanded by only 0.4% in Q3. The UK economy has grown by 2.2% for the entire 2015. By the end of the trades the pair GBP/USD showed a decrease.

The Bank of Japan is determined to launch the new monetary stimulus. Unexpectedly, the regulator introduced the negative deposits interest rates. This decision was taken due to the low inflation level and the global financial markets instability. The Central Bank lowered the commercial banks deposits rate to 0.1% from 0.1%. According to the Bank statement, the regulator is ready to go for an even greater rates decrease, if it considers this measure necessary. The asset purchase program amount was maintained at 80 trillion yen. The pair USD/JPY sharply increased.


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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...

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...

  


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