Fundamental analysis for February 04, 2016

4 February, 2016

Fundamental analysis for February 04, 2016

The United States published the US PMI Composite from IMS for January at the level of 53.5 (the previous value was 55.3, the forecast was 55.1). In addition the USA released the ADP Employment Change for January at the level of 205K (the previous value was 267K; the forecast was 195K).

The Eurozone unemployment rate decreased by 0.8% to the level of 10.4% in 2015. That figure is a clear reflection of the ECB soft monetary policy. The low euro rate and the cheap liquidity contribute to the real economy development. The Euro area Retail Sales showed 1,4% y/y and 0,3% m/m against the forecasted 1,5% y/y and 0,3% m/m. By the end of the trades the pair euro/dollar showed a strong growth.

The UK GDP grew by 2.17% in 2015, compared with the growth of 2.85% in 2014. The same United States growth rate was 2.38% and 2.42% respectively for the same period. As we can see, the UK economic slowdown is stronger than in the USA which has traditionally been a negative factor for the currency. The pair pound/dollar increased.

The dollar showed a rather volatile dynamics. The currency weakened against the yen which is in demand amid a new wave of risk aversion. The oil prices falling caused stock indices decrease which significantly losing ground this week after the spectacular recent growth. In the light of this, buyers showed interest to the Japanese yen.

Non-Manufacturing PMI has been published. The EU index showed 53.6 that coincided with the forecast. The same index showed 53.2 in the USA, the forecast was 53.7. The UK Non-Manufacturing PMI came in at 55.6 versus the forecast of 55.3.


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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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