Fundamental analysis for February 03, 2016

3 February, 2016

Fundamental analysis for February 03, 2016

Risk aversion has weakened the US currency position. The global economy depressing picture became the reason for the growing pessimism. Initially, the risk aversion was triggered by the China report where the manufacturing sector PMI fell from 49.7 to 49.4 while analysts expected a more modest drop to 49.6.

The Eurozone December Unemployment Rate showed 10.4%, the forecast was 10.5%. By the end of the trades the pair EUR/USD decreased.

The UK has published the Construction PMI index for January. The index came in at 55.0. The Bank of England revealed the mortgage market statistics: the Mortgage Approvals for December grew by 0.59% to 70.84 thousand, while the Net Lending to Individuals was 3.2 billion pounds for December. Investors expected the PMI reduction compared to the previous month. The forecasted median was 57,5 against the previous 57,8. In fact the index came in at the level of 55,0. The trades on the pair GBP/USD closed with a growth.

The 10-year Japanese government bonds yield continued their falling which is a strong bearish factor for the yen. After the Bank of Japan decision to introduce the negative interest rates the US and Japanese securities differential yields have been expanding which increases the investment attractiveness in US assets. However the pair USD/JPY fell on the yesterday’s trades.


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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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